IPDC EZ APPLICATION PRIVACY POLICY

Users of IPDC Finance Ltd.'s IPDC EZ App ("App link") are subject to the terms of the IPDC EZ Privacy Policy. In the IPDC EZ application that we own and operate and, in this Policy, references to "EZ," "IPDC," "we," "us," or "our(s)" refer to IPDC Finance Ltd.

Since IPDC Finance Ltd. values its customers' privacy greatly, it has taken all necessary and practical steps to preserve the confidentiality of any information sent through its IPDC EZ application. The information we gather, share, use, and safeguard when you access or use this IPDC EZ application is described in this online privacy statement.

You can apply loans digitally through the IPDC EZ application, receive loan approval confirmation and loan disbursement confirmation via your registered mobile number, email addresses and access extra services that can be accessible through IPDC EZ App ("App link").

As you review this Digital Loan Privacy Policy, here are a few general principles to keep in mind:

1.        Agreement to Policy:

By installing the IPDC EZ app on your mobile device, you certify that you have read, understand, and agreed to all the conditions of this Policy as set forth below. You also agree to abide by any additional security precautions that we may from time to time put in place.

2.        Gathering, Using & Sharing Information:

Information that you voluntarily disclose your personal or sensitive information such as your name, address, phone number, email address and other contact information, transaction information provided to IPDC via online/offline, as also any information, which may or may not be personally identifiable and/or any information which may be collected by IPDC and it's representative, representative of partner merchant, agent/agency, including our servers from your browser, mobile app or mobile device through cookies and other technologies, as detailed below.

3.        Usage & other information:

In addition to the personal data mentioned above, we might also gather data regarding how you use our online services. For instance, we might record the IP address of the computer or other device you use to access the online service, the operating system and browser you're using, as well as details about the website you just left and the pages of our online service you visit. Other data regarding your visit to or use of our online services may also be collected and stored by us through cookies, web beacons, or other technologies. Additionally, we might potentially link the usage data and other data we get online to personal data about you.

4.        Use of Information:

We use the information mentioned above in several ways. Such as but not limited to-

·         Processing applications and transactions.

·         Verifying your identity (such as when you access your account information).

·         Preventing fraud and enhancing the security of your account or our online services.

·         Responding to your requests and communicating with you.

5.        Disclosure of Information:
With our IPDC Finance affiliates and any other third parties with which we have nondisclosure agreements, we may share the information we learn from and about you, as well as details about your Accounts or the transactions you conduct. However, we will only divulge details about your account or the transactions you conduct to third parties, when you authorize us to do so, under the following circumstances:

·         In order to comply with the requirements of the law or with court orders.

·         In order to address, rectify, ameliorate or mitigate fraud, security or technical issues.

·         With our trusted service providers (when required) who work on our behalf and do not have an independent use of the information we disclose to them and have agreed to adhere to the rules set forth in this Privacy Policy.

6.        Data Retention:
As long as you use the relevant functionality of the IPDC EZ Application, our operational systems will retain user-provided data. Please be aware that the IPDC EZ Application may require part or all the user-provided data in order to work effectively, and that we may be required by law to preserve certain information. If you close your IPDC EZ profile, we will save certain information for a fair amount of time to help with any requests to reopen your profile.

7.        Updating your information:
You may be able to review and update your account information through the IPDC EZ App.

8.        Security Measures:

·         Your information's confidentiality is extremely important to us. To protect the information, we collect from or about our users, we have put in place the necessary physical, technological, and procedural measures. To operate, develop, or enhance our IPDC EZ Application, for instance, we restrict access to this information to those authorized personnel and contractors. These security measures are periodically examined in order to maintain the accuracy and integrity of your information while preventing unauthorized access, disclosure, and improper use of it.

·         The IPDC EZ Application uses User IDs and Passwords to help prevent unauthorized access to your information. Every time, we urge you to help us in this endeavor by keeping your IPDC EZ User ID and Passwords private.

·         We implement reasonable security procedures to help safeguard your information both before it is transmitted and after it has reached us. However, no electronic transmission or storage mechanism is completely safe.

9.        Consent to Transfer:

If you reside outside of Bangladesh, be aware that Bangladesh will be where we send and process any data we obtain through the App. You hereby acknowledge and expressly consent to the transmission, processing, and storage of your information in Bangladesh in connection with the use of the App and any information you may voluntarily provide to us.

10.     Questions & Concerns:

If you have any questions about this Policy or our privacy practices, please contact our 24/7 call center number 16519.

11.     Policy Update & Effective Dates:
This policy is subject to modification, and any such modifications shall be effective immediately upon posting on this application. You agree to the updated Policy if you continue to use the application after these changes.

IPDC EZ USER AGREEMENT

Please carefully read the terms of this user agreement. You agree to be bound by - 1) This IPDC EZ User Agreement; 2) The acceptable use policy; 3) The electronic communication policy; 4) The Privacy Policy by accessing the IPDC EZ platform. The headings in this agreement are included solely for references.

This Agreement also controls how you use the IPDC EZ Platform & its Service (as detailed below), and how you use the platform to access your IPDC EZ Account details and services (together, the "IPDC EZ Services" or "Services"). Unless otherwise stated, you are subject to the terms and conditions of this Agreement. You have agreed to all the terms and conditions in this Agreement and the agreements on the Legal Agreements page by using the IPDC EZ services including the privacy policy. Before creating an IPDC EZ Account or accessing the IPDC EZ Services, you should carefully read these terms. You understand that you might be asked to accept any revised versions of this Agreement each time you use the IPDC EZ Service or visit our website- www.ipdcbd.com, depending on the situation.

1.        THE AGREEMENT:

1.1        The Parties to the Agreement

This Agreement sets forth the terms and conditions between IPDC EZ ("we," "us," or "our") and you ("you," "your," "User," or "IPDC EZ User" for the financing provided by IPDC EZ, the creditor, to you for the goods and/or services you purchased from the retail or online businesses that accept IPDC EZ as a payment method ("IPDC EZ Authorized Merchant"). By means of this Agreement, IPDC EZ provides you access to finance as well as the option to put off paying for the items and/or services you have ordered. According to the conditions of this Agreement, you agree to pay us.

1.2        Changes to This Agreement

This Agreement, including your credit limit, may be changed by IPDC EZ preemptively at any time; provided, however, that such changes will not subject you to any new obligations with respect to actions you had already taken before the change took effect unless you specifically consent to such changes. By continuing to use IPDC EZ services, you acknowledge and concur to the changes to this Agreement. If any of the terms and conditions are declared illegal, invalid, or ineffective, then only the declared terms and conditions will be affected. The remaining terms and conditions will remain valid and effective. Despite any changes to the services provided by IPDC EZ, IPDC has the sole authority to change the terms and conditions without any prior notice. Further consent from you will not be required. If you are in a jurisdiction at the time this Agreement is entered into that requires your consent to any changes to this agreement.

1.3        Your Eligibility

To be eligible to use the Services, you must be at least 18 years old and a resident of Bangladesh. You represent and warrant that you are eligible to use the Services.

2.        WHAT IS IPDC EZ?

2.1        The IPDC EZ Service

IPDC EZ is a consumer financing platform designed to allow Users to finance and buy products from IPDC EZ Authorized Merchants today and pay for them later, through a down payment followed by installment payments. To start using IPDC EZ, you need to open an IPDC EZ Account. The user can purchase products either with full cash or the EMI system.

2.2        Your Promise to Pay

Before completing any transaction on your behalf through any IPDC EZ Services, IPDC EZ will obtain your affirmative consent to all terms and conditions applicable to each Order, including your promise to pay the full amount of the goods and services financed by the IPDC EZ before completing any transaction on your behalf. You grant us the right to collect any unpaid portions from your account of the financed transaction by agreeing to this Agreement and approving the financing of any purchases made through the IPDC EZ Authorized Merchant or IPDC EZ. Rescheduled payments are solely for the purpose of: (a) keeping your IPDC EZ Account active; and (b) you volunteering to reschedule a payment, neither fee is required as part of your Promise to Pay.

2.3        Your Account

You must create an IPDC EZ Account (also known as "your Account" or "your IPDC EZ Account") to use the IPDC EZ Services. By creating an IPDC EZ Account and agreeing to the terms and conditions stated in this Agreement. Furthermore, when you are purchasing any product with EMI facility, through this IPDC EZ Platform, you confirm that you are going to avail a credit/loan facility against your Account, which to be used for purchasing the products and/or services from IPDC EZ Authorized Merchants, only.

2.4        Account Security & First Time Activation

By using the mobile phone number associated with the user account, IPDC EZ recognizes user accounts. We safeguard your Account with 2-factor authentication. First is the Password for your IPDC Account and secondly One Time Password ("OTP") given to your mobile phone number via Short Message Service ("SMS") text is the second security measure we employ. The OTP demonstrates that you are in control of both the device you are using with IPDC EZ Services and your mobile phone number. When IPDC EZ recognizes a previously identified and approved device, the OTP is not required. Instead, this is done using device identification techniques and algorithms.

You must give us your cell phone number, email address, and confirm that you are the owner of the device by entering an OTP to create an IPDC EZ User Account. After that, we'll ask you to set up a password and prove your identity. We request user identity information such as full name, NID, Birth year, Mobile Number, Email Address. You attest that you are the owner of the mobile phone number entered or that you have the holder's authorization to use the IPDC EZ User Account.

BY GIVING US YOUR MOBILE PHONE NUMBER AND EMAIL ADDRESS, YOU GIVE US AND OUR SERVICE PROVIDERS YOUR PRIOR EXPRESS CONSENT TO SEND IPDC EZ OTP TEXTS TO YOUR NUMBER USING AN AUTODIALER. ALSO, ONCE BOTH THE OTPs ARE TAKEN DURING THE REGISTRATION FROM YOUR MOBILE NUMBER AND EMAIL ADDRESS, WE CONSIDER YOUR MOBILE NUMBER AND EMAIL ADDRESS TO BE AUTHORIZED CHANNELS OF COMMUNICATION.

2.5        IPDC's Role in the Order

IPDC EZ does not sell any products or services that it has funded. The goods or services paid for with the help of the IPDC EZ Services are not within the control of or subject to the obligation of IPDC EZ. You can only use our platform for financial services to purchase products from an IPDC EZ Authorized Merchant. IPDC does not provide any warranty or guarantee and IPDC shall not bear any liability of the quality, delivery or other services of the products or services provided or to be provided by the merchants.

2.6        Cancelling Transactions

a.        All requests for Orders and Services through IPDC EZ are subject to approval by IPDC EZ, at our discretion. We may choose not to approve an Order or provide financing for a product to you, or we may cancel an approved Order before the goods or services are delivered or supplied, if: (i) we reasonably consider such cancellation necessary in order to: (A) protect the integrity of our systems or the products; (B) prevent fraud; (C) limit the risk of money laundering or terrorism financing; or (D) otherwise protect us against legal, regulatory or non-payment risk; (ii) you do not pass our verifications or checks; (iii) we suspect, or are aware, that you have breached this Agreement in a material respect (including by failing to make any payment due under this Agreement on the payment due date); or (iv) we otherwise reasonably consider the Order or request for financing to be suspicious.

b.        You won't be required to make any additional payments to us and won't have any other ongoing relationship with us regarding that Order if we cancel an approved Order or request for financing. We will apply for a full refund of any amounts you paid to us to the bank account or credit card you used to make the payment.  If the down payment is paid directly to the outlet manager, then there is no cancellation option. In addition, the Merchant will not be obligated to deliver the items for any authorized Orders or financing requests, unless mandated by law. The IPDC EZ Authorized Merchant may accept an alternative payment method at its discretion or if required to do so by law if you decide to go through with the purchase.

2.7        Automatic Payments

You permit and order IPDC EZ to make preauthorized electronic fund transfers from your selected account or payment device by accepting these terms and conditions.

a.        Payment Schedule: You will receive an email from us confirming receipt of your Order and a Payment Schedule as soon as we approve the financing for your Order. Your explicit agreement to make recurring electronic payments is acknowledged by this Payment Schedule email. You consent to paying the appropriate amount(s) in line with the Payment Schedule. Making early payments or prepaying the entire outstanding is not allowed. IPDC EZ will automatically process payments in line with the due dates and amounts specified on the Payment Schedule. We will charge you the lower amount if any prepayment makes your final payment less than what is specified in the Payment Schedule. You give IPDC EZ permission to process these payments using the information you have supplied about your payment method. IPDC EZ maintains the right to try again later or date if an Automatic Payment or Manual Payment fails on any of the dates listed in your Payment Schedule (s). An "Automatic Payment" is one that we will process and collect automatically using the Payment Method you have selected. 'Payment Method' refers to a bank account or credit card. This Payment Method may be charged in agreed-upon amounts as specified in your Payment Schedule either once or repeatedly. When your IPDC EZ Account is created, you will be given the chance to choose a preferred Payment Method. Via your IPDC EZ Account, you can at any moment alter or modify your selected Payment Method.

b.        Authorization: You hereby expressly consent to, authorize, and direct IPDC EZ to process and collect Automatic Payment amounts using any Payment Method on file, starting with your preferred Payment Method for the amounts and on those scheduled dates specified in your Payment Schedule, subject to the other terms of this Agreement. You accept that, in accordance with your Payment Schedule and the conditions of this Agreement, you are granting us permission to withdraw or reverse variable payment amounts from or to this bank account or payment device. You authorize us to satisfy any monetary liability you owe us by -

1.        Processing and collecting the payment using any of your preferred Payment Methods on file with us later(s) or date(s)

2.        Processing and collecting the payment using any other Payment Method which you have provided details of;

3.        Offsetting the payment amount against any amounts we may owe to you; or

4.        Any other legal means.

c.        Sufficient Funds Required: You are responsible for ensuring you have enough money in your bank account or credit card to make Automatic Payments on the dates listed in your Payment Schedule. You are responsible for paying any fees or charges levied by your payment method unless they originate from a mistake on our part or a system breakdown. You must give us reasonable notice of 3 business days if you need to change the payment method or the due date because you are unable to make the payment or are aware that there are insufficient funds.

d.        Error Correction: If we make an error, you must notify us within 10 days of receiving your statement from us. If we are timely notified, we will correct the error and reimburse you any fees or charges imposed because of our error or system failure. To file a claim, email support@IPDC EZ.com. Please provide us with a copy of the relevant records so we can locate your account and identify the issue.

e.        Recourse & Reimbursement: You hereby acknowledge and confirm that you have certain recourse rights if any debit does not comply with this Agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement.

2.8        Account Deactivation & Reactivation

We reserve the right to suspend your IPDC EZ Account if you owe us money for an Order that has not been paid in accordance with your Payment Schedule, as modified by any payments that we agreed to reschedule, and the payment failure lasts longer than two days. You can still access your IPDC EZ Account after it has been temporarily deactivated or the EZ credit limit is deactivated, but until you do so, you won't be able to use IPDC EZ's Services to make any further transactions. You are still obligated to pay for each Order after deactivation in accordance with your Payment Schedule and this Agreement. You can reactivate your IPDC EZ Account by voluntarily paying us: (i) any past due payments owed to us for each Order according to your Payment Schedule, as adjusted; and (ii) any outstanding Account Reactivation Fees. We will use the payment options you have given us to try and process any failed payments and collect any associated account reactivation fees. Your IPDC EZ Account will revert to an active position once we have successfully processed all outstanding Failed Payments and Account Reactivation Fees. Where forbidden by law, IPDC EZ does not impose a fee to reschedule payments or to reactivate an account.

2.9        Authorization to Credit your Account

IPDC EZ or the partner merchants may be compelled to make a payment to your bank account or card on file in particular circumstances, such as refunds. You authorize IPDC EZ or the affiliated merchants to handle the transaction involving these payments to the account(s) we have on record for you.

3.        USING IPDC EZ

3.1        Purchases

By utilizing IPDC EZ functionalities on IPDC EZ Authorized Merchant sites and interfaces, you can utilize IPDC EZ to pay for purchases of goods and services from IPDC EZ Authorized Merchants. Your down payment and periodic payments may be made using a variety of payment methods, including but not restricted to bank accounts, credit cards, debit cards, mobile financial services, and any new payment technology that is deemed appropriate. When you choose a bank account as your payment option, you are requesting an electronic transfer from that account. For these transactions, IPDC EZ will electronically transfer the specified amount from your bank account. You acknowledge that you are granting IPDC EZ permission to use any of your bank accounts, debit cards, credit cards, or Mobile Financial Services (MFS) to make the necessary transfers to cover your down payment or a late or missed payment. By authorizing IPDC EZ, you grant them the right to resubmit any transaction that is rejected for any reason, including inadequate or uncollected cash.

3.2        Purchase Size Limit

We may, at our discretion, impose limits on the amount of money you can use to purchase goods or services through the IPDC EZ Services.

3.3        Minimum Order Value

IPDC EZ holds the sole authority to set the minimum order value as deemed appropriate.

3.4        Refused & Refunded Transactions

The IPDC EZ Authorized Merchant is not compelled to accept your payment when you make a transaction using IPDC EZ. You confirm that you will not hold IPDC EZ accountable for any losses brought on by a merchant's refusal to accept a payment made using IPDC EZ. The original Payment Method or methods chosen by the seller will receive any unclaimed, refunded, or refused payments. The agreement between "You" and the merchant obliges the merchant to restore any unclaimed funds to you. Any refund requests will not be honored by IPDC EZ or IPDC Finance Limited.

3.5        Payment Review

Payment Review is a procedure by which IPDC EZ examines some transactions that can be considered high-risk. IPDC EZ will hold a payment and let you and the Merchant know if it is being submitted to a payment review. Following a review, IPDC EZ will decide whether to approve or reject the payment. You and the Merchant will both receive notification from IPDC EZ if the payment is approved. If not, IPDC EZ will terminate the transaction and reimburse the User's money.

3.6        Contact IPDC EZ

Please get in touch right away if you have any issues or queries about your account. Additionally, you must open a dispute within 15 days (about 2 weeks) of the payment's submission date. You are not permitted to receive a recovery with IPDC EZ if you have already received one from another source in relation to such a purchase.

Unauthorized Transactions: If an IPDC EZ transaction that you did not allow is the source of your issue, please report it to IPDC EZ by email or in-app conversation within 5 days. It should be noted that IPDC will not be held accountable for failing to recognize communications sent through unofficial means.

All other Transactions: You must have a valid Account, have used IPDC EZ to pay for the item, and have made all installment payments due in time for IPDC EZ to be able to assist you.

3.7        Dispute Management

To resolve any purchase issues, IPDC EZ advises Users to contact Merchants directly. An inquiry management tool is offered by IPDC EZ Services within the User Account site to provide improved contact with IPDC EZ Authorized Merchants. None of the disputes involving purchases involves IPDC EZ. Our involvement in disputes is restricted to developing a user and merchant account communications and dispute management platform.

3.8        Bank Accounts

IPDC EZ will save data for all accounts connected to this bank connection when you log into your bank account to connect your bank account(s) to your IPDC EZ Account. To collect all payments, including past-due ones, IPDC EZ reserves the right to start payments and take money out of any bank account(s) on record at any moment. Savings accounts and non-primary checking accounts are examples of accounts.

4.        CREDIT ANALYSIS & REPORTING

4.1        Credit Reports

You expressly authorize IPDC EZ to get your personal credit record from Credit Information Bureau (CIB) of Bangladesh Government when you open an IPDC EZ Account. We are adding this credit report to our procedures to identify any potential business risks for IPDC EZ when providing finance to you.

4.2        IPDC EZ Download Credit Information Bureau

You provide IPDC EZ permission to request a credit history inquiry by submitting a request for IPDC EZ Credit Limit allocation. You authorize the request footprint in your CIB report by signing up for the service. You understand that you are or were aware that other banks or financial institutions requesting information about your credit history would have access to the requested information by agreeing to the terms and conditions. Unless you specifically request a loan from IPDC EZ or an instalment plan from IPDC EZ, IPDC will not report a loan to the Credit Information Bureau (CIB).

4.3        Credit Reporting

By giving you the choice to sign up for IPDC EZ, IPDC EZ aims to provide its users with financial independence. Your transactions are reported to the Credit Information Bureau by IPDC EZ (CIB). Making on-time payments on your debts in the past is good for your credit history. Unless you want IPDC EZ Credit Limit, we do not report to credit bureaus. We are required to inform these bureaus of both positive and negative outcomes when you join IPDC EZ. If you are not able to pay your bills on time, do not join IPDC EZ. You can leave IPDC EZ at any moment by cancelling your account, but IPDC EZ must keep reporting information about you, and it is unable to remove unfavorable reports.

5.        ZERO INTEREST CHARGES

5.1        IPDC EZ Charges

When you use your IPDC EZ Account to use our service to make purchases, we do not charge you any interest. However, depending on the service used, IPDC Charges & Fees will be applicable as per IPDC schedule of Charges & Fees.

6.        FEES

6.1        Account Reactivation Fees

Where permitted by law, we will impose an account reactivation fee or delinquent fee and disable your ability to make further purchases using IPDC EZ's services if you fail to make a scheduled payment in accordance with your Payment Schedule, as modified for any rescheduled payments that we agreed to. This is known as a "Failed Payment." You will still have access to your Account once it has been cancelled, but you will not be able to make any further purchases.

6.2        Rescheduling Convenience Fess

IPDC EZ holds the right to charge a reschedule fee in case you are rescheduling.

7.        OUR COMMUNICATIONS

7.1        Notices to You

You agree and authorize IPDC EZ your consent to communicate with you electronically as indicated regarding your account and the IPDC EZ Services. You shall be deemed to have received any electronic communications within one hour of the moment we post them online, through email, or via SMS. Any postal letter we send to you will be deemed delivered to you three business days after we send it.

7.2        Notices to IPDC EZ

Except as otherwise stated above, and herein notices to IPDC EZ must be sent by postal mail to the Head Office of IPDC EZ.

7.3        Contacting You

To contact you more efficiently, we may contact you, your references or employer using phone calls, online calls, video conference or text messages to the telephone number(s) or email ID you have provided us. We may place such calls or texts to: (i) send you OTP text messages; (ii) provide you notices regarding your Account or Account activity or transactions, (iii) investigate or prevent fraud regarding your Account, (iv) collect a debt owed by you to us; or (v) provide any other informational or transactional message and promotional contents related to your Account. We may share your phone number(s), your reference contact number, your personal email ID or official ID, reference email ID or any other email ID associated with you or your references with service providers with whom we contract to assist us in making these calls and texts to you, but we will not share your phone number(s) with third parties for their own purposes without your consent.

7.4        Recording Calls

You acknowledge and agree that for the purposes of quality control, training, protection, or record-keeping, IPDC EZ, its service provider, or agents may, at any time and at our discretion, monitor or record telephone calls between you or anyone speaking on your behalf and IPDC EZ. You acknowledge and agree that while IPDC EZ may listen in on, watch, or record your communications without further notice or consent, not all telephone lines or calls may be recorded by IPDC EZ, and IPDC EZ makes no assurances as to the retention or retrievability of any recordings of telephone calls.

8.        CREDIT ASSESSMENT

8.1        Right of Credit Assessment

IPDC has the sole right of Credit Assessment and has the right to accept modify or reject loan limits of your application.

9.        ORDER ACCEPTANCE

9.1       Right of Order Acceptance

The merchant you are buying the product from or ordering the product from has the complete right to accept, modify or reject your order. IPDC does not intervene in terms of order approval, rejection, & delivery.

9.2       Right of Order Modification & Rejection

The merchant has the right to modify and reject any order. IPDC is not liable for any rejection or modification of the orders.

10.     Auto Cancellation

10.1     Down Payment

If you do not pay the down payment within 72 hours after the product stock has been approved, your order will be automatically cancelled, and you need to order again.

11.     LATE PAYMENT CHARGES & OTHER PENALTIES

11.1     Late Payment

If you miss any monthly installments, there will be an additional charge of 2% annually for that specific missed payment. Other charges and fees will be applicable as per IPDC schedule of charges and fees.

12.     ANTI MONEY LAUNDERING (AML) & COMBATING FINANCING TERRORISM (CFT)

12.1     AML

As per Bangladesh Law & Bangladesh Bank Law, IPDC vigilantly follows all the rules & regulations of Anti Money Laundering (AML) and DO NOT support any person or organization who is somehow connected with this.

User of IPDC EZ is responsible for such activities and IPDC will take necessary actions based on the law established within Bangladeshi law.

12.2     CFT

IPDC is never involved and in no way supports the financing of any sort of terrorism. If any user of IPDC and its products are in anyway responsible for any terrorism related funding, IPDC will take necessary actions based on all the laws governing by Bangladesh.

13.     OTHER LAWS

IPDC follows all the other laws and regulations of Bangladesh related to any financial transactions. The User also MUST follow all the rules and regulations of Bangladesh.

14.     IPDC DEPOSIT AS SECURITY FOR IPDC EZ PURCHASE

The loan as contemplated herein will be secured by lien marked on relevant term deposits/fixed deposits including all charges and interests in any manner whatsoever including the interests and charges accruing on or in connection with the IPDC EZ Loan in favor of IPDC.

15.     REPAYABLE ON DEMAND

The customer is bound to pay the full amount of the remaining EMIs at once if being asked. IPDC holds the right to take the full amount from the customer with formal notice.

16.     CONDITIONS FOR RENEWAL

The maximum credit limit validity period is 60 months, subject to auto renewal annually based on purchase history, repayment history, income information etc. Otherwise, the loan limit will be automatically renewed again after 5 years.

17.     FUND DISBURSEMENT ENTITY & PURPOSE

17.1    Disbursement Purpose

The Loan disbursement is only valid for purchasing products from authorized merchants of IPDC. The approved loan amount cannot be utilized for any other purpose.

17.2    Fund Disbursement

For 10.0pt;font-family:"Arial Narrow",sans-serif;mso-bidi-font-family:Arial">For proper loan utilization, the amount will be directly disbursed to the authorized merchants.

18.     CUSTOMER/USER LIABILITIES

By accepting this agreement, the user is liable for all the terms and conditions mentioned here. They must follow all the rules mentioned above.