Terms & Conditions​

By using www.credilab.my, including any of its sub-domains (the "Website"), you signify that you have read, understood, and agreed to be bound by all of the Terms & Conditions below, whether or not you are a registered member of the Website.

I. LOAN AMOUNT
The Lender has agreed to lend to the Borrower the amount stipulated in the Schedule J Money Lending Agreement, in Malaysian Currency (the “Loan” or the “Personal Loan”).

II. PURPOSE
The Borrower undertakes to use the Loan, or any portion thereof, for legitimate and legal purposes only, and shall not use the Loan for any purpose, or in any endeavor, which is against Malaysian laws, rules, and regulations.

III. TERM
The Loan shall have a term of not more than the date stipulated in the Schedule J Money Lending Agreement (“Agreement”), which term shall start from the date of the Borrowers’ receipt of the Loan, or any portion thereof.

IV. DUE DATE
The expiration of the Loan Term shall be on the date stipulated in the Schedule J Money Lending Agreement (the “Pay Day”).In the event of the extension of a Loan Term, the expiration of such extended Loan Term shall be on a date set by the Lender (the “Extended Due Date”).

V. LOAN TERM EXTENSION
The Loan Term may be extended subject to additional terms and conditions set by the Lender including but not limited to the following:
a. The Borrower shall request for an extension of the Loan Term from the Lender on or before the Due Date.

b. Every request for extension of the Loan Term shall not exceed Thirty (30) days from the Due Date;

c. The Borrower shall pay any additional fee, charges, and/or interests (the “Loan Term Extension Fees”); and

d. If the Borrower requests for an extension of the Loan Term after Due Date, the extension of the Loan Term commences from the date the Borrower complies with all the terms and conditions under this Section.

In the event the Borrower requests for additional extensions of the Loan Term, over and above the initial request for extension of the Loan Term, the additional terms and conditions shall likewise apply:

a. The Borrower shall request for an additional extension of the Loan Term from the Lender on or before the Extended Due Date/s.

b. Each additional request for extension of the Loan Term shall not exceed Thirty (30) days from the Extended Due Date;

c. The Borrower shall pay the Loan Extension Fees for each request for extension of the Loan Term; and

d. If the Borrower requests for an additional extension of the Loan Term after the Extended Due Date, the extension of the Loan Term commences from the date the Borrower complies with all the terms and conditions under this Section.

VI. LOAN RELEASE
The Loan shall be released to the Borrower vide bank transfer to the Borrower’s bank account and the released of Loan shall be subject to the Borrower’s compliance with all the terms and conditions herein as required by the Lender. The Borrower’s receipt of the Loan or any portion thereof shall signify his agreement to all the terms and conditions and the provisions of the Agreement.

VII. PAYMENT
The Borrower shall pay the Loan, including all applicable fees, charges, and/or interests, in full, on or before Due Date, without need of any further notice or demand from the Lender in accordance with the terms and conditions pursuant to the Agreement. The Lender may grant the Borrower a grace period of three (3) days in the event that the Borrower fails for the time to pay the Loan or any part thereof within the Due Date.All payments to be made by the Borrower under these Terms and Conditions shall be paid to the Lender not later than 7:00pm to the Due Date of the Payment. Any payment made by the Borrower after such time shall be considered as payment made for the next working day and shall be subject to applicable fees and charges.

VIII. FEES AND CHARGES
The Borrower shall, for his/her own account, pay all reasonable costs, charges, fees, and/or expenses incurred in connection with the release of the Loan, and any other documentation required thereunder and/or any amendment of the Agreement, which total reasonable costs, charges, fees, and/or expenses may include a service fee, processing fee, documentary stamp tax, and other legal fees.

IX. INTEREST
The Borrower agrees to pay the Lender interest on the Loan, or the balance thereof, if applicable, at the rate of one point five percent (1.5%), calculated on a monthly basis.

X. LATE PAYMENT FEE
If the Borrower fails to pay in full the Loan, and other applicable fees, charges, and/or interests, to the Lender on Due Date, or at an earlier date by acceleration or otherwise, without a Loan Term Extension, the Borrower agrees and understands that he/she shall be liable unconditionally to pay, without prior written notice from the Lender, a late payment fee will be applied and payable together with and in addition to the principal amount of the Loan and other applicable fees, charges, and/or interests due.The Borrower agrees and understands that he/she shall likewise be charged additional late payment fee should he/she fail to pay the Loan in full within three (3) calendar days from Due Date, and a further a late payment fee shall be applicable and payable in full within ten (10), twenty (20) and thirty (30) calendar days from Due Date.

XI. BORROWER’S PARTICULARS
The Borrower shall notify the Lender promptly in writing of any change in his employment office, home address, and contact information and as may be required by the Lender, any other information previously provided to the Lender in connection with the Loan. In the event that the Borrower fails to notify the Lender on any of his changed-particulars as referred herein, the Lender shall continue to send all notices to the Borrower’s last known address pursuant to the record held by the Lender and such notices sent by the Lender shall be deemed as good faith and in compliant with the applicable laws and/or regulation.

XII. COMMUNICATIONS
All messages or communications (including approval of the Loan) sent to the Borrower’s contact details, including email address and/or phone number (“Borrower’s Contact Details”) held in record by the Lender. It is agreed that once the message or communication is sent to the Borrower’s Contact Details, the Lender shall held no responsibility for its security, confidentiality, or any acts of any respective service providers (email service provider, mobile operator), nor shall the Lender be held responsible for any acts of the Borrower’s Contact Details.In order for the Lender to render prompt and accurate service, the Borrower authorizes the Lender to record, without the Lender being necessarily obliged to do so, any and all telephone conversations between the Borrower and the Lender, regardless of who initiated the telephone conversation.Such authorization to record includes, but is not limited to, recording of instructions, statements, complaints, inquiries by the Borrower, and information regarding the loan and reminders by the Lender. The Lender may use the recorder telephone conversation as proof of the borrower’s acceptance to any offer or additional or revision of terms made through telephone. The Lender may also use such recordings for any legal purpose, particularly as evidence in any judicial or administrative hearing or proceeding.

XIII. EXEMPTION FROM LIABILITIES
The Lender shall not be responsible for any losses or damages which the Borrower or any other person(s) may suffer or incur due to any delay or refusal of the Lender to grant or to continue to grant the whole or part of the Loan to the Borrower and the Lender shall not be obliged to give any reason for such delay or refusal.Without prejudice to the foregoing, and to the extent not contrary to applicable law, the Lender shall not in any responsible for or liable to the Borrower for any losses or damages which the Borrower may suffer in respect of any revision of the amount, suspension or termination of the Loan, changes to any of these Terms and Conditions or any other exercise of the Lender’s rights under these Terms and Conditions, at law or in equity.

XIV. EVENT OF DEFAULT
Without prejudice to any other terms in the Agreement and the Lender’s right to demand immediate repayment of the Loan which is repayable on demand, the Borrower shall immediately repay the outstanding and unpaid Loan together with any applicable charges and fees, and all other applicable expenses and monies payable in relation to the Loan upon the occurrence of any of the event of default stated herein:
a. any other money that the Borrower owes the Lender under the Loan is not paid when due;

b. The Borrower fails to pay on the Due Date any amount the Borrower shall pay under the Agreement or does not comply with any obligation under the Agreement and/or any guaranteed document.

c. Proceedings are taken against the Borrower or the Borrower's property, or the criminal case is conducted against the Borrower, which in the opinion of the Lender, may have a significant adverse effect on the Borrower's ability to perform its obligations under the Agreement;

d. The Borrower commits or threatens to commit a breach of any of the terms and conditions of the Agreement;

e. The Borrower becomes insolvent or the Borrower has taken any step for making of a bankruptcy petition or bankruptcy order against the Borrower;

f. The Borrower dies or becomes loss of capacity for civil act;

g. Any of the Borrower’s declaration or representation set out in these Terms and Conditions or the Agreement, as varied from time to time, is or has become untrue;

h. If any governmental authority condemns, nationalizes, seizes or otherwise expropriates, or seals, blocks or freezes, or uses for public purposes or for the purposes of national defense or security and other similar special circumstances, all or any substantial part of the property or other assets of the Borrower;

i. If any provision of these Terms and Conditions governing the Agreement is, or is alleged by the Borrower to be, or is declared by any governmental authority or court to be, ineffective, invalid, illegal or void, in whole or in part;

j. If a court of competent jurisdiction issues a judgment or decision against the Borrower; or an arbitration body of competent jurisdiction issues an award against the Borrower; or

k. Any other events which shall have occurred or circumstances that arise which gives the Lender reasonable grounds to believe that the Borrower may not be able to perform or comply with any of obligations.

XV. CONSEQUENCES OF DEFAULT
Upon occurrence of an Event of Default, the Lender may, at its sole discretion, without need of notice or demand, and without limiting the Lender’s rights under applicable laws or under the Agreement:a. Take such action and exercise such remedies in order to protect and enforce its rights under the Agreement;b. Declare the Agreement, including all unpaid applicable fees, charges, and/or interests, to be immediately due and payable, without need of notice, demand, or protest of any kind, all of which are herein expressly waived by the Borrower;c. The applicable fees, charges, and/or interests on the Loan, as indicated in these Terms and Conditions, shall continue to run until full payment of the Loan, including all fees, charges, and/or interests, have been paid.d. The rights available to the Lender under the Agreement may be exercised by the Lender alternatively, successively, concurrently, and/or cumulatively, at the option of the Lender.

XVI. DISCLOSURE INFORMATION
The Borrower irrevocably and unconditionally consents for the Lender, and any officer of the Lender, to disclose any customer information relating to the Borrower or any information whatsoever relating to the Borrower as the Lender shall consider appropriate to any person to whom disclosure is permitted or required by any statutory provision or law or to any other person wherever situate for any purpose whatsoever and it is hereby agreed that the Lender and any officer of the Lender may disclose the foregoing information to the fullest extent permitted by any statutory provision or law.The rights conferred on the Lender herein shall be in addition to and shall not be in any way prejudiced or affected by any other agreement, expressed or implied, between the Borrower and the Lender in relation to any information referred to herein nor shall any such other agreement be in any way prejudiced or affected by any provision herein. This consent and provision shall survive the termination of Agreement, and/or the termination of any relationship between the Borrower and the Lender, for any reason whatsoever.

XVII. PRIVACY IN INFORMATION
The Lender shall observe privacy of personal information of the Borrower obtained in connection with the Loan documentations. The Lender, including its employees, agents, representatives, officers, and directors, who are involved in the processing of the Borrower’s personal information, shall operate and hold personal information under strict confidentiality, which undertaking shall survive the termination of these Terms and Conditions.

XVIII. PROCESSING AND USE OF INFORMATION
The Borrower expressly consents to the use by the Lender of any information provided by the Borrower, or otherwise obtained by the Lender, in relation to or in connection with the Agreement, for the purpose of enforcing the Borrower’s obligations under the Agreement. The Borrower likewise expressly consents to the collection and processing of personal information about and/or relating to the Borrower, and to transfer of such information to third parties, including, without limitation, any of the affiliates or subsidiaries of the Lender, credit bureaus, government agencies, and collection agencies.

XIX. REPRESENTATIONS AND WARRANTIES
a. The Borrower warrants and represents that all information, declarations, representations, and warranties made or given by him or as evidenced by any documents given to the Lender in connection with the Loan and all particulars indicated in the Agreement relating thereto are and will continue to be true and correct in all respects and will be complied with at all times.

b. No litigation, arbitration or administrative proceeding is taking place or pending or threatened against the Borrower or its assets, and no tax liability claim is taking place or pending or threatened against the Borrower or its assets.

c. The Borrower confirms that the Lender is entitled to rely on the said information, declarations, representations and warranties in granting the Loan and that he shall immediately upon request furnish the Lender with all such documents, statements, information and explanation as may be reasonably required by the Lender from time to time regarding his affairs, state or condition, financial or otherwise, that may affect the Lender's decision in granting or in continuing to grant the Loan to the Borrower.

d. The Lender agrees to offer the Loan which can be unsecured, partially secured, or fully secured type. However, in case that there is any change on security requirement as caused by any reason, the Lender reserves the right to change the conditions of security type of the Loan at any time. Moreover, the Loan may be terminated at the Lender's absolute discretion and the whereupon all monies owing to the Lender under the Loan and these Terms and Conditions together with all charges (if any) thereon shall immediately become due and payable to the Lender.

XX. TERMINATION
The Borrower may terminate the Loan by giving the Lender written notice of such termination and by paying all monies owing under the Loan and these Terms and Conditions together with all fees, charges, and/or interests, if any.Notwithstanding anything to the contrary herein, the Lender may at any time at its absolute discretion cancel the Loan and terminate the Agreement without giving any reason therefore and without prior notice to the Borrower to the extent not contrary to applicable law. All monies owing under the Loan and these Terms and Conditions together with all charges, if any, shall immediately become due and payable on demand.

XXI. OTHER TERMS AND CONDITIONS
a. ASSIGNMENT. The Lender may assign or transfer any or all its rights in these Terms and Conditions without the Borrower’s consent. The Borrower may not assign or transfer any of his/her rights under these Terms and Conditions without the Lender’s prior written consent.

b. NON-EXCLUSIVITY. No right or remedy conferred upon or reserved to either party herein is exclusive of any other right or remedy herein, or that provided or permitted by law or equity; but each shall be cumulative of any other right or remedy available to such party under these Terms and Conditions and existing laws.

c. COMPLETE AGREEMENT. These Terms and Conditions constitutes the entire agreement…No amendment to this Terms and Conditions shall be allowed unless made in writing and signed by the parties.

d. AMENDMENT. No amendment to the Agreement shall be allowed unless or otherwise as permitted by the applicable law. Notwithstanding the aforesaid, the Lender shall upon written notice to the Borrower, have the discretion to amend the details of, including but not limited to the Loan, interest rate, installment amount, and Due Date. If the Borrower is not agreeable to such amendments, then, the Borrower shall have the right to terminate the Agreement by way of written notice to the Lender before the date of the amendments take into effect, and all sums owing and charges, if any, by the Borrower with respect to the Loan and these terms and Conditions shall be paid to the Lender in full. The continued use of the Loan by the Borrower, notwithstanding the notice, shall automatically deemed to be an implied agreement to the amendments.

e. BINDING ON SUCCESSORS AND ASSIGNS. These Terms and Conditions shall bind on the parties and their respective successors-in-interest and assigns.

f. INDULGENCE NOT WAIVER. The failure of either party to insist upon a strict performance of any of the terms, conditions and covenants of these Terms and Conditions shall not be deemed a relinquishment or waiver of such breach or default unless such waiver is in writing and signed by the authorized representative of the party making the waiver.

g. SEVERABILITY. If any one or more of the provisions of these Terms and Conditions are declared invalid, illegal, or unenforceable in any respect under the applicable law by any competent court, the validity, legality, or enforceability of the remaining provisions contained herein shall not in any way be affected or impaired.

h. OUTSOURCING. The Borrower agrees and allows the Lender to outsource the management and/or collection of debt as well as the litigation process to a third party, at the sole discretion of the Lender.

i. CHANGE IN NAME. The Change of the Business Name of the Lender for any reason, in all cases, shall not lead to the termination of these Terms and Conditions and the Borrower must comply with its obligations under the provisions of these Terms and Conditions and/or the Agreement.

j. ACCEPTANCE. The Borrower confirms that he has in the choice of language as chosen by the him/her, read, understood and agreed to the entire Terms and Conditions constituting the above provisions and/or any other documents, including the Privacy Policy and the Notice to Loan Applicants pursuant to the Personal Data Protection Act 2010. The Borrower understood that the Lender has agreed to grant a loan to the Borrower only after the Borrower has agreed to abide the Terms and Conditions contained herein.