By accessing or using the Service, you confirm your agreement to be bound by these Terms. These Terms constitute a legally binding agreement between you and the Company governing your access to and use of the Service. If you do not agree to these Terms, you may not access or use the Services. The Company may immediately terminate these Terms or any Services with respect to you, or generally cease offering or deny access to the Services or any portion thereof, at any time for any reason.
Table of Contents
- SCOPE OF SERVICES, ELIGIBILITY, OPENING AN ACCOUNT, LICENSE AND REPRESENTATIONS
- CONSENT TO ELECTRONIC TRANSACTIONS AND DISCLOSURES
- REGISTRATION DATA AND ACCOUNT SECURITY
- BORROWER USER
- PAHIRAM FEES
- INTELLECTUAL PROPERTY MATTERS
- MISCELLANEOUS TERMS
Pahiram is an online platform, meant to connect registered Users to be potential lenders and borrowers to each other. Users are classified into two, namely: Borrower Users and Lender Users. Users are given the option to choose if they are to act as a Borrower User or a Lender User, but cannot act as both at the same time.
In providing this platform, Pahiram does not act as an agent of neither a Borrower User nor a Lender User. Any agreement in relation to any loan perfected between said Users, as well as the fulfillment of their respective obligations therein, shall be the sole responsibility of the contracting parties.
If you are an individual, you must be 18 years or older to use our Services, and by opening a Pahiram Account you declare and warrant that you are 18 years or older. We may require at any time that you provide evidence of your age.
If you are not a consumer, you confirm that you have authority to bind any business or corporation on whose behalf you use our Website or Services, and that business or corporation accepts these terms.
By opening a Pahiram Account you warrant that your opening of and maintaining a Pahiram Account does not violate any applicable laws or regulations. You take responsibility for any consequences of your breach of this section.
In order to use our Services, you must first open a Pahiram Account by providing details as may be required. As part of the signup process you will need to accept this Agreement.
For legal reasons, you warrant that all information provided during the signup process or any time thereafter must be complete, accurate and truthful. You must update this information whenever it changes. We may refuse to provide, or discontinue, the Services to any user at any time for any reason.
We treat all activities under a Pahiram Account to be those of the registered user. You must only use the Services to transact on your own account and not on behalf of any other person or entity.
You may only open one Pahiram Account unless we explicitly approve the opening of additional accounts. Pahiram may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, Pahiram may close or merge these duplicate accounts without any notification to you.
In using the site, you hereby authorize the Company to allow other Users to review your personal information (including credit data). You may review personal information (including credit data) posted by or relating to other Users on the Site, but you are not authorized to disclose or otherwise use such information for any purpose other than assessing the creditworthiness of other Users. The Company shall not be held liable for any use of such information by you or other Users other than those specified under these terms.
Without our prior consent, you may not:
- Use any automated means to access this Site or collect any information from the Site (including, without limitation, robots, spiders, scripts or other automatic devices or programs);
- Frame the Site, utilize framing techniques to enclose any Content or other proprietary information, place pop-up windows over this Site's pages, or otherwise affect the display of this Site's pages;
- Engage in the practices of "screen scraping," "database scraping" or any other activity with the purpose of obtaining content or other information;
- Upload, post, email, transmit or otherwise make available any unsolicited or unauthorized advertising, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of commercial or non-commercial solicitation or bulk communications of any kind to any Pahiram user;
- Use data provided by Pahiram, provided in any manner whatsoever, for any competing uses or purposes. You further agree that you have never used data, provided in any manner whatsoever, from Pahiram in the past to compete with the products or services of Pahiram; or
- Use this Site in any manner that violates applicable laws or that could damage, disable, overburden, or impair this Site or interfere with any other party's use and enjoyment of this Site.
We may terminate and disable your access to, or use of, this Site and the Services at any time without notice for any reason, with or without cause at Pahiram’s sole discretion. The Company may likewise pursue any legal action for any violation of the above-mentioned terms against you, as it may be deem appropriate.
You represent, warrant and agree that no materials of any kind submitted through your account or otherwise posted or shared by you through the Service will violate or infringe upon the rights of any third party, including copyright, trademark, privacy, publicity or other personal or proprietary rights; or contain libelous, defamatory, fraudulent or otherwise unlawful material. You further agree not to harvest or collect email addresses or other contact information of Users from the Service or the Site by electronic or other means for the purposes of sending unsolicited emails or other unsolicited communications. Additionally, you agree not to use automated scripts to collect information from the Service or the Site or for any other purpose. You further agree that you may not use the Service or the Site in any unlawful manner or in any other manner that could damage, disable, overburden or impair the Site. In addition, you agree not to use the Service or the Site to:
- Upload, post, transmit, share, store or otherwise make available any content that we deem to be harmful, threatening, unlawful, defamatory, infringing, abusive, inflammatory, harassing, vulgar, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or racially, ethnically or otherwise objectionable;
- Impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age or your affiliation with or authority to act on behalf of any person or entity;
- Upload, post, transmit, share or otherwise make available any unsolicited or unauthorized advertising, solicitations, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of solicitation in the Pahiram page;
- Upload, post, transmit, share, store or otherwise make publicly available on the Site any private information of any third party, including, without limitation, addresses, phone numbers, email addresses, Social Security numbers and credit card numbers;
- Solicit personal information from any natural person under 18 or solicit passwords or personally identifying information for commercial or unlawful purposes from any User;
- Upload, post, transmit, share or otherwise make available any material that contains software viruses or any other malicious or tracking computer code, files or programs designed to track, interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;
- Intimidate or harass another User;
- Upload, post, transmit, share, store or otherwise make available content that would constitute, encourage or provide instructions for a criminal offense, violate the rights of any party, or that would otherwise create liability or violate any local, state, national or international law;
- Use or attempt to use another's account, service or system without authorization from that person and the Company, or create a false identity on the Service or the Site;
- Register for multiple User accounts;
- Operate or otherwise utilize an account opened in the name of another individual;
- Upload, post, transmit, share, store or otherwise make available content that, in the sole judgment of the Company, is objectionable or which restricts or inhibits any other person from using or enjoying the Site, or which may expose the Company or its Users to any harm or liability of any type; or
- Any other acts of similar nature with those abovementioned
You acknowledge that we are required by law to carry out all necessary security and customer due diligence checks on you in order to provide the Services to you, and that you authorize us with your express consent to do the same. You may need to provide additional information (in a format acceptable to us) and/or be required to attend face-to-face meetings with us (or any third party authorised by us) so we can verify your identity as a condition of processing your transaction order, opening your Pahiram Account, or otherwise providing our Services to you. We may make, directly or through any third party, any inquiries we consider necessary to validate information that you provide to us, including checking commercial databases or credit reports. If need be, you authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your Pahiram Account with us, or in the event of a dispute relating to this Agreement and/or activity under your Pahiram Account.
If we choose to conduct due diligence check on any User, to the extent permitted by applicable law, we disclaim warranties of any kind, either express or implied resulting from checks of such kind.
By posting and uploading User Content to any part of the Site, you automatically grant, and you represent and warrant that you have the right to grant, to the Company an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part) and distribute such User Content for any purpose on or in connection with the Site or the promotion thereof, to prepare derivative works of, or incorporate into other works, such User Content, and to grant and authorize sublicenses of the foregoing. You may remove your User Content from the Site at any time. If you choose to remove your User Content, the license granted above will not expire.
You may review personal or business information (including credit data) posted by other Users on the Site, but you are not authorized to disclose or otherwise use such information for any purpose other than assessing the creditworthiness of other Users.
Because Pahiram operates only with access to the Internet, whether you choose to participate on our platform as a borrower or an lender, it is necessary for you to consent to transact business with us online and electronically. As part of doing business with us, you likewise consent to doing business with Dragonpay, a progressive, alternative online payment provider based in the Philippines, which provides innovative payment solutions to help merchants accept or disburse payments online. Dragonpay focuses on alternative payment channels such as banks, mobile payments, ATM's, and brick-and-mortar payment centers. By doing so, we provide our merchants convenience, better protection against fraud, and low transaction). Dragonpay uses industry-standard Secure Socket Layer (SSL) technology to protect the transmission of your data from your browser to our server. This is the same encryption technology used by all financial institutions worldwide.
You consent to receive SMS messages (including text messages), calls and messages (including prerecorded and artificial voice and autodialed) from us, our employees, representatives, affiliates or anyone calling on our behalf at the specific number(s) you have provided to us, or numbers we can reasonably associate with your account, with information or questions about your application, loan and/or account. You certify, warrant and represent that the telephone numbers that you have provided to us are your numbers and not someone else's. You represent that you are permitted to receive calls at each of the telephone numbers you have provided to us. You agree to alert us whenever you stop using a particular telephone number.
You also understand that your cellular or mobile telephone provider will charge you according to the type of plan you carry.
CALL RECORDING AND MONITORING: You consent to the recording and monitoring, upon proper notice, for quality assurance, training, risk management and/or collection purposes, of any call that you place with us (or our employees, representatives, affiliates, third parties or anyone calling on our behalf) or that we (or our employees, representatives, affiliates, third parties or anyone calling on our behalf) place to you.
Electronic Communications. Any Disclosures will be provided to you electronically either on our Site or via electronic mail to the email address you provided.
Scope of Consent. Your consent to receive Disclosures and transact business electronically, and our agreement to do so, applies to any transactions to which such Disclosures relate between you and Pahiram. Your consent will remain in effect for so long as you are a User and, if you are no longer a User, will continue until such a time as all Disclosures relevant to transactions that occurred while you were a User have been made.
Change in Your Contact Information. If you are an individual User, you will keep us informed of any change in your email or home mailing address so that you can continue to receive all Disclosures in a timely fashion. You also agree to immediately update your registered residence address and/or mobile/telephone number on the Site if they change.
In consideration of your use of the Site, you agree to (a) provide accurate, current and complete information about you as may be prompted by any registration forms on the Site or otherwise requested by the Company ("Registration Data"); (b) maintain the security of your password and identification; (c) maintain and promptly update the Registration Data, and any other information you provide to the Company, to keep it accurate, current and complete; (d) promptly notify the Company regarding any material changes to information or circumstances that could affect your eligibility to continue to use the Site or Service or the terms on which you use the Site or Service; and (e) be fully responsible for all use of your account and for any actions that take place using your account.
Users will have to pay two types of Pahiram fees: (i) Registration Fee and (ii) Interest Fee:
- Registration Fee is applied to both Lenders and Borrowers of Pahiram. This fee of Php50.00 will be yearly and will start when you register as a lender and borrower of our platform after the first loan.
- Interest Fee, equivalent to a % of interest income (table below), applies only to lenders and will only be charged after the first loan.
|Lender's Interest Rate||Pahiram Cut|
You will be notified of these fees once incurred. You agree to pay the relevant fees using your chosen payment method when you send the Funds over to another user.
Pahiram graphics, logos, designs, page headers, button icons, scripts and service names are registered trademarks. The Company's trademarks and trade dress may not be used, including as part of trademarks and/or as part of domain names, in connection with any product or service in any manner that is likely to cause confusion and may not be copied, imitated, or used, in whole or in part, without the prior written permission of the Company.
You acknowledge and agree that any questions, comments, suggestions, ideas, feedback or other information about the Site or the Service ("Submissions"), provided by you to the Company are non-confidential and shall become the sole property of the Company. The Company shall own exclusive rights, including all intellectual property rights, and shall be entitled to the unrestricted use and dissemination of these Submissions for any purpose, commercial or otherwise, without acknowledgment or compensation to you.
You are solely responsible for your interactions with other Users. We reserve the right, but have no obligation, to monitor disputes between you and other Users. It is understood that the Company shall be free from any liability in relation to whatever contractual relations or dispute which may arise between Users.
None of Company's, its parent, any of its affiliates, subsidiaries, providers or their respective officers, directors, employees, agents, independent contractors or licensors (collectively the "Pahiram Company") guarantees the accuracy, adequacy, timeliness, reliability, completeness, or usefulness of any of the Content and Pahiram disclaims liability for errors or omissions in the Content.
This Site and all of the Content is provided "as is" and "as available," without any warranty, either express or implied, including the implied warranties of merchantability, fitness for a particular purpose, non-infringement or title. Additionally, there are no warranties as to the results of your use of the Content. Pahiram does not warrant that the Site is free of viruses or other harmful components. This does not affect those warranties which are incapable of exclusion, restriction or modification under the laws applicable to this Agreement.
The Company does not guarantee the accuracy of any User Content or Third Party Content. Although we provide rules for User conduct and postings, we do not control and are not responsible for what Users post on the Site and are not responsible for any offensive, inappropriate, obscene, unlawful or otherwise objectionable content you may encounter on the Site or in connection with any User Content or Third Party Content. The Company is not responsible for the conduct, whether online or offline, of any User of the Site or Service. The Company cannot guarantee and does not promise any specific results from use of the Site and/or the Service to obtain a loan.
The Site and the Service may be temporarily unavailable from time to time for maintenance or other reasons. The Company assumes no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, User communications. The Company is not responsible for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, computer equipment, software, failure of email or players on account of technical problems or traffic congestion on the Internet or on the Site or combination thereof, including injury or damage to Users or to any other person's computer related to or resulting from participating or downloading materials in connection with the Web and/or in connection with the Service. Under no circumstances will the Company be responsible for any loss or damage, including any loss or damage to any User Content, financial damages or lost profits, loss of business, or personal injury or death, resulting from anyone's use of the Site or the Service, any User Content or Third Party Content posted on or through the Site or the Service or transmitted to Users, or any interactions between Users of the Site, whether online or offline.
The Company reserves the right to change any and all content contained in the Site and any Services offered through the Site at any time without notice. Reference to any products, services, processes or other information, by trade name, trademark, manufacturer, supplier or otherwise (“third party websites or resources”) does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Company. Such third-party websites or resources may be subject to different terms and conditions and privacy practices. Pahiram shall not be responsible or liable for the availability or accuracy of such third-party website or resources, or the content, products, or services available from such third-party websites or resources. Links to such third-party Services are not an endorsement by Airbnb of such Third-Party Services.
OTHER THAN AS EXPRESSLY SET OUT IN THIS AGREEMENT, NEITHER PAHIRAM NOR OUR OFFICERS, DIRECTORS, EMPLOYEES, SUPPLIERS, AGENTS, AND RELATED ENTITIES MAKE ANY SPECIFIC PROMISES ABOUT OUR SERVICES. FOR EXAMPLE, WE DON'T MAKE ANY COMMITMENTS ABOUT THE CONTENT WITHIN THE SERVICES, THE SPECIFIC FUNCTIONS OF THE SERVICES, OR THEIR RELIABILITY, AVAILABILITY, OR ABILITY TO MEET YOUR NEEDS. WE PROVIDE THE SERVICES "AS IS".
SOME JURISDICTIONS PROVIDE FOR CERTAIN WARRANTIES, LIKE THE IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. TO THE FULLEST EXTENT PERMITTED BY LAW, WE EXCLUDE ALL WARRANTIES.
To the fullest extent permitted by law (and without limiting any other provision in this Agreement), we, and our related entities, exclude all liability to you or anyone else for any loss or damage of any kind (howsoever caused or arising) arising from or in connection with the Services.
We will not be liable to you for any loss of profit, loss of business, business interruption, loss of business opportunity, or consequential loss.
We will not be liable for any loss or damage caused by a bug or virus, or other technological attacks or harmful material that may infect your computer equipment, computer programs, data or other proprietary material, related to your use of our Services.
We have no control over websites linked to and from our Website as such we assume no responsibility for their content or any loss or damage that may arise from your use of them.
We (and our officers, directors, employees, suppliers, agents and related entities) cannot be liable for any failure to perform, or delay in performing, any of our obligations as a result of fortuitous events which are outside our control. An event which is outside our control refers to any act or event beyond our reasonable control, including, but without limitation to, strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport.
It is reiterated that Pahiram is a platform, meant to connect potential lenders and borrowers. The obligations under the loan agreement are solely for the lender and borrower to fulfill. By accepting these terms, you recognize that the Corporation does not guarantee the fulfillment of any of the obligations under the loan agreement, including the payment of the principal loan and the interest, among others. You recognize that the Corporation has no liability arising from the loan agreement between you and another user of the Pahiram platform.
If you choose to use the Services, your relationship with Pahiram is limited to being an independent User and not an employee, agent, co-joint venturers, or partner of Pahiram for any reason, and you act exclusively on your own behalf and for your own benefit, and not on behalf, or for the benefit, of Pahiram.
Through the data gathered by the Corporation from registration and usage, it is able to grant trust scores to Pahiram users. The Corporation does not guarantee that a user will act in accordance with his trust score. For example, it does not guarantee that a borrower with a high trust score will promptly settle all his obligations, or that a lender with a high trust score will promptly release funds to the borrower. You recognize that trust scores are mere preliminary and transient values, and do not serve as guarantees of future user action. You also recognize that you have full and complete responsibility for conducting due diligence checks on a counter-party through means other than the trust score. You recognize that the Corporation has no liability arising from your reliance on the trust score.
You recognize that in the course of operating the Pahiram platform, the Corporation relies on third-party service providers including, among others, Dragon Pay and Facebook. The list of these third-party service providers may increase in the future. Pahiram does not guarantee the continuous, uninterrupted, and faultless operation of its third-party service providers. By agreeing to these terms, you recognize that you have no action against the Corporation arising from acts or omissions attributable to these third-party providers.
Pahiram, as a third party service provider, is not a withholding agent and does not withhold any tax on income generated by any of the parties in the loan transaction. The parties are responsible for the proper payment of taxes on the income derived from their respective transaction. Further, you acknowledge that Pahiram is neither an agent of the lender nor the borrower.
To the fullest extent permitted by applicable law, you shall be responsible and hold us (and our officers, directors, employees, suppliers, agents and related entities) harmless from any and all loss, damage, liabilities, claims, costs and expenses due to, or arising out of or in connection with, your breach of this Agreement or any applicable law or regulation, your use of our Services and/or any fraud by you. This provision shall continue to be in force even after you cease using our Services.
You agree that the Corporation has the right to process and share, as defined under the Data Privacy Act of 2012 and its implementing rules and regulations, your personal information and sensitive personal information, including your Facebook profile information, name, birthday, cellular phone number, e-mail address, scans of your certificates of employment, utility bills, government IDs, birth certificates, Bureau of Internal Revenue Form 2306, and other documents, and your usage activities in the Pahiram platform, among others, including their derivatives, for the purpose of identity verification, credit and trust rating, pre-loan information verification, statistical recording and analysis, marketing, and research activities.
The information may be recorded, organized, stored, used, consolidated, updated, modified, blocked, erased, deleted, shared, analyzed, and operated upon in any manner whatsoever, in furtherance of the abovementioned purposes.
The personal information and sensitive personal information collected from you, and their derivatives, will be shared with other users of the Pahiram platform, by viewing your Pahiram profile and/or Facebook profile, for the purpose of identity verification, credit and trust rating, and pre-loan information verification. They may also be shared with government agencies, statistics companies, marketing companies, financial companies, business entities, and any of the Corporation’s sister companies, as a result of data sale, or for the purpose of entering into joint ventures, statistical recording and analysis, marketing, research activities, and in furtherance of business activities.
The personal information and sensitive personal information collected from you will be retained and stored only for as long as necessary to accomplish the abovementioned purposes.
You have the rights of a data subject under the Data Privacy Act of 2012, which include the right to access and correction, and the right to object.
By accepting these conditions, you give your free, full, and intelligent consent to the abovementioned activities, and hereby certify the Corporation’s compliance with the Data Privacy Act of 2012.”
In case any provision of these Terms shall be held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
Please visit our FAQ page for more information.