GENERAL TERMS AND CONDITIONS

GENERAL TERMS AND CONDITIONS OF USING THE INTERNET PORTAL www.zltymelon.sk

1. Introductory Provisions

1.1 These General Terms and Conditions of Using the Internet Portal www.zltymeloun.sk (hereinafter “GTC”) apply to intermediating and negotiating a loan or assigning the receivable on the Internet Portal, define in greater detail the conditions and principles of using the services provided through the Internet Portal and precisely specify the rights and obligations of iService, a. s., with its registered office at Strakova 1, 811 01 Bratislava, Company ID No.: 46 029 796, registered in the Commercial Register of the District Court Bratislava I, Section: Sa, File No. 5236/B, (hereinafter “iService, a. s.”), iSale, v. o. s., with its registered office at Strakova 1, 811 01 Bratislava, Company ID No.: 46 289 402, registered in the Commercial Register of the District Court Bratislava I, Section: Sr, File No. 1416/B, (hereinafter “iSale, v. o. s.”), other iService Group companies, the Debtor and Investor.

1.2 The legal relationships among iService, a. s., iSale, v. o. s., iService Group companies, a potential Debtor and a potential Investor are governed by these GTC, including the Price List, Framework Agreement on Cooperation, Loan Agreement, Agreement on Assignment of Receivable, instructions set out on the Internet Portal, Rules of Complaints Handling Procedure of iService, a. s., Rules of Complaints Handling Procedure of iSale, v. o. s. and provisions of the applicable generally binding legal regulations.

1.3 Use of the services of the Internet Portal is subject to registration and verification of the User on the Internet Portal by completing the personal data form, performing the activities required by the Internet Portal, accepting the terms and conditions specified in these GTC including the Price List, entering into the Framework Agreement on Cooperation and being granted the status of a Debtor or Investor.

2. Definitions

2.1 The Internet Portal means the Internet platform operated and administered through cooperation of iService, a. s., iSale, v. o. s. and other iService Group Companies, serving for operation of the Internet auction of loans, Internet auction of receivables and for providing other services associated with its use.

2.2 iService as the owner of the Internet Portal allows, based on the Investor’s registration process and under the Framework Agreement on Cooperation, the access of the Investor to the Internet auction of loans and Internet auction of receivables (i.e. including, without limitation, to the demands for loans and supply of receivables, placing the offer of the loan or the offer of the receivable) and ensures other services with regard to using the Internet Portal. Other companies from the iService Group are entitled to provide the Investors with the services similar to the services provided by iService, a. s. Under the contractual relationship with other iService Group companies, iService, a. s. provides the services to the Investors, with whom the Framework Agreement on Cooperation was entered into as well as to the Investors, who entered into the Framework Agreement on Cooperation with another iService Group company.

2.3 Another iService Group company is iService Czech Republic, s.r.o., with its registered office at: Šmilovského 1264/5, Vinohrady, 120 00 Prague 2, the Czech Republic, Company ID No.: 024 14 481, registered in the Commercial Register maintained with the Municipal Court in Prague under file No. C 219243.

2.4 Under the agreement with iService, a. s., iSale, v. o. s. is entitled to use the domain of the Internet Portal, its software, database as well as to intermediate the access and use and administration of the Internet Portal for the individual Debtors. Based on the process of registration and verification of the Debtor and under the Framework Agreement on Cooperation, they allow the Debtor to access the Internet auction of loans (i.e. including, without limitation, placing the demand for a loan, creation of auction, administration of auction, termination and processing of the auction) and ensures other services associated with the use of the Internet Portal for this purpose.

2.5 The Debtor means a natural person who obtained as a result of the process of registration and verification and under the Framework Agreement on Cooperation entered into with iSale, v. o. s. the status of the Debtor and which based on the result of the Internet auction of loans enters into the Loan Agreement with the Investor, in whose name and on whose behalf iService, a. s. acts. For the purpose of these GTC the Debtor many not be an entrepreneur under the relevant provisions of the applicable generally binding legal regulations, they must have full legal capacity, legal age above 18 years, the permanent residence in the territory of the Slovak Republic or Czech Republic and must be the owner of the Individual bank account.

2.6 The Investor is a (i) natural person who after the process of registration and verification and under the Framework Agreement on Cooperation entered into with iService, a. s. achieved the status of the Investor as well as a (ii) natural person who obtained as a result of the process of registration under the conditions of another iService Group company and under the Framework Agreement on Cooperation entered into with the iService Group company, which according to the according to the result of Internet auction of loans enters into the Loan Agreement with the Debtor or according to the result of the Internet auction of receivables enters into the Agreement on Assignment of Receivable with another Investor; Loan Agreement and/or the Agreement on Assignment of Receivable will be entered into with the Debtor and/or Investor through iService, a. s., acting in the name and behalf of the Investor. For the purpose of these GTC the Investor may many not be an entrepreneur under the relevant provisions of the applicable generally binding legal regulations, they must have full legal capacity, legal age above 18 years, the permanent residence in the territory of the SEPA countries and must be the owner of the Individual bank account.

2.7 Loan Agreement means the agreement entered into according to the result of the Internet auction of loans between the Debtor and Investor, in whose name and on whose behalf iService, a. s. acts.

2.8 Agreement on Assignment of Receivable means the agreement entered into according to the result of Internet auction of receivables between two Investors, in whose name and on whose behalf iService, a. s. acts. The subject matter of the Agreement on Assignment of Receivable may be only the Investor’s receivable from the Debtor arising under the Loan Agreement entered into through the Internet auction of loans operated on the Internet Portal.

2.9 Internet auction of loans means automatic electronic tool operated on the Internet Portal for the purposes of matching the supply and demand for loans under the conditions provided by these GTC including the Price List, Framework Agreement on Cooperation and instructions given on the Internet Portal.

2.10 Internet auction of receivables means automatic electronic tool operated on the Internet Portal for the purposes of matching the supply and demand for under the conditions provided by these GTC including the Price List, Framework Agreement on Cooperation and instructions given on the Internet Portal.

2.11 Framework Agreement on Cooperation means the agreement entered into under these GTC between iService, a. s. and Investor and/or between iSale, v. o. s. and Debtor, entered into based on process of registration and verification of the relevant entity and the subject matter of which is the use of services of the Internet Portal under the conditions specified in these GTC. A mandatory condition for entering into the Framework Agreement on Cooperation with iService, a. s. (concerning the Investor) or iSale, v. o. s. (concerning the Debtor) and achievement of the status of an Investor or Debtor is successful registration on the Internet Portal, creation of the Virtual User Account, successful verification of the identity and in the case of the User who wishes to achieve the status of the Debtor also passing the internal and external verification of the User and assessment of the User’s financial standing, who wishes to achieve the status of a Debtor (scoring).

2.12 The Internet Portal User means a person who based on the process of registration and verification wishes to enter into the Framework Agreement on Cooperation and thus achieve the status of the Debtor or Investor for the purpose of using the services of the Internet Portal.

2.13 The Username means a unique individual name selected by the User during registration on the Internet Portal that identifies the User vis-a-vis other users of the Internet Portal in using the Internet Portal services.

2.14 Individual bank account means an individual bank account in the exclusive ownership of the User in Euro currency (EUR) or Czech crown (CZK) by an entity eligible to provide the banking services in the territory of any of SEPA countries; when using the services of the Internet Portal, Internet auction of loans and Internet auction of receivables the User is not entitled to perform any payments through the international payment system.

2.15 Bank account of iService, a. s. means a non-interest bearing bank account in the exclusive ownership of iService, a. s., used solely for ensuring the correct transfer of the funds among iService, a. s., iSale, v. o. s., other iService Group company, Investor and Debtor and their set-off.

2.16 Bank account of iSale, v. o. s. means a non-interest bearing bank account in the exclusive ownership of iSale, v. o. s., used solely for ensuring the correct transfer of the funds among iService, a. s., iSale, v. o. s., other iService Group company, Investor and Debtor and their set-off.

2.17 Clearing account of the Debtor/Investor means a non-interest bearing virtual bank account linked to the Bank account of iService, a. s. or other iService Group company (concerning the Investor) or Bank Account of iSale, v. o. s. (concerning the Debtor), established for the needs of a particular Debtor or Investor.

2.18 The Virtual Account is a distinct part of the Internet Portal where under the Framework Agreement on Cooperation there is an option of submitting the demand or supply of a loan or receivable and to which the User has the authorised access after entering the login data, namely the Username and Password.

2.19 Password means a sequence of alphabetical characters and numbers to be determined by the User during registration in order to guarantee exclusive access to their virtual User Account.

2.20 Verification means the process of performing the control activities by iService, a. s. and iSale, v. o. s., focused on verifying compliance of documents sent by the User with the data entered during the registration or verifying the compliance of the data entered by the User during their registration or documents sent by the User with the actual status captured in publicly or non-publicly accessible databases and registers.

2.21 The rating group is a set of Users wishing to enter into Framework Agreement on Cooperation with iSale, v. o. s. and thus achieve the status of the Debtor determined in the process of assessing the financial standing (scoring) of the Users and classified in the relevant group based on the assessment prognosis of the likelihood of repayment of the loans on their part.

2.22 The Parties include iSale, v. o. s., iService, a. s., Debtor and Investor.

2.23 Agreement on Wage Deductions means the agreement entered into between Debtor and Investor, in whose name and on whose behalf iService, a. s. acts, for the purpose of securing the Debtor’s payable under the Loan Agreement.

2.24 ZOPI is the association of entities, namely Association for Protection of the Rights of Investors - Residents, with its registered office at: Strakova 1, 811 01 Bratislava, Company ID No.: 45 741 867.

2.25 Bill of Exchange is the blank note issued by the Debtor as the issuer for the benefit of iService, a. s. as the bill of exchange creditor, including the missing data on the amount of the Bill of Exchange and its maturity in order to secure the Debtor’s payable under the Loan Agreement.

2.26 Agreement on Use of Bill of Exchange means the agreement entered into between the Debtor as the Bill of Exchange issuer and iService, a. s. as the Bill of Exchange creditor, the content of which is the agreement of the parties on the method of completing the Bill of Exchange.

2.27 Autoinvest is an automated tool provided by the Internet Portal allowing the Investor automated choices of Debtors, who will be offered by the loan, according to set parameters and without the need of choosing the particular Debtor in each individual case.

3. Achieving the Debtor Status

3.1 Registration and Creation of Virtual User Account

3.1.1 In order to register and create the Virtual User Account on the Internet Portal the User, who wishes to enter into the Framework Agreement with iSale, v. o. s. and thus achieve the status of the Debtor, is obliged to enter the name and surname, selected Username and e-mail address, or other data required by the Internet Portal and accept GTC including the Price List by clicking on the relevant box on the Internet Portal. By clicking on the relevant box on the Internet Portal the User represents that they have carefully and in detail read these GTC including the Price List, understood their content and the User undertakes to comply with these GTC including the Price List. The User is also obliged, by clicking on the relevant box on the Internet Portal, to grant consent to processing their personal data.

3.1.2 Following the proper and correct completion of the required data, their delivery and approval of the binding effect of GTC including the Price List (subpar. 3.1.1 of GTC), granting consent to processing the personal data (subpar. 3.1.1 of GTC), the Internet Portal will send the welcome e-mail to the User, which will include a randomly generated Password, hypertext link to the Internet Portal and the call to change the randomly generated Password. By successful change of the randomly generated Password the Virtual User Account will be created automatically for the User, who wishes to achieve the status of the Debtor, which will result in completing the registration process of the User, who wishes to achieve the status of the Debtor.

3.1.3 The User must always enter the correct and true data required under subpar. 3.1.1 of GTC. Entering the incorrect or untrue data will result in denying or cancelling the registration of the User, and/or denial to create or cancellation of the Virtual User Account.

3.1.4 The User is entitled to enter and use only one Username, which may not be libellous, defamatory, obscene, it must not be confused with the name of another User and may not create a false impression of the User, their personality, identity, characteristics, and connections with other persons. The Internet Portal is authorized to refuse the Username entered by the User during registration, which does not meet the criteria set out in the preceding sentence, and to prompt the User to select a new Username.

3.1.5 Through the Internet Portal the User is entitled to create and use only one Virtual User Account for the User, who wishes to achieve the status of an Investor and one Virtual User Account for the User, who wishes to achieve the status of a Debtor. Violation of this obligation constitutes the reason for denial or cancellation of the User’s registration and/or denial to create a new Virtual User Account or cancellation of all Virtual User Accounts.

3.1.6 The User acknowledges that based on the registration and creation of the Virtual User Account the User will not be automatically entitled to use all services provided through the Internet Portal (i.e. including, without limitation, the option to enter into the Loan Agreement). The right to use all services provided through the Internet Portal will ensue for the User by entering into the Framework Agreement on Cooperation with iSale, v. o. s. and by achieving the status of the Debtor under the terms and conditions specified in these GTC.

3.1.7 User, who wishes to enter into the Framework Agreement on Cooperation with iSale, v. o. s. and thus achieve the status of the Debtor, acknowledges that creating the application for a loan, entering into the Framework Agreement on Cooperation with iSale, v. o. s. and achieving the status of the Debtor is subject to successful registration on the Internet Portal and creation of the Virtual User Account (subpar. 3.1 of GTC), successful internal verification (subpar. 3.2 of GTC) and external verification of the User and assessment of the User’s financial standing (scoring) (subpar. 3.3 GTC).

3.2 Internal Verification of the User Wishing to Achieve Status of Debtor

3.2.1 After registration and creation of the Virtual Account (subpar. 3.1.2 of GTC) the User, who wishes to achieve status of a Debtor in order to enter into the Framework Agreement on Cooperation with iSale, v. o. s., to become a Debtor and to create the application for a loan, must enter personal data, contact information, information concerning the bank details, information on employment and income, as well as other information to the extent required on the Internet Portal through the on-line form generated by the Internet Portal.

3.2.2 In addition to the data specified in subpar. 3.2.1 of these GTC, the User is entitled to provide, on a voluntary basis, another data on their function, scope of business, marital status, employment, education and other additional information.

3.2.3 The User must always enter the correct and true data required under subpar. 3.2.1 and 3.2.2 of GTC. Entering the incorrect or untrue data will result in terminating the verification of the User, and/or denial to create or cancellation of the Virtual User Account, denial to enter into the Framework Agreement on Cooperation with the User and cancellation of registration and the Virtual User Account.

3.2.4 Based on the data entered by the User, who wishes to achieve status of a Debtor (subpar. 3.2.1 a 3.2.2 of GTC), iSale, v. o. s. will perform internal verification of the accuracy and correctness of the data with the actual situation according to publicly available databases and registries. The User will be informed about the result of the internal verification by e-mail immediately.

3.2.5 In the case any discrepancy is identified between the data entered by the User (subpar. 3.2.1 and 3.2.2 of GTC) with the actual situation, iSale, v. o. s. will terminate the process of verifying the User, will not enter into the Framework Agreement on Cooperation with the User and will be entitled to cancel the registration and the Virtual User Account.

3.2.6 Following the instructions provided to the User via e-mail (subpar. 3.2.4 of GTC), the User will send, by registered mail to the address of iSale, v. o. s. within 5 days from the date the information on the result of the internal verification is delivered (subpar. 3.2.4 of GTC), the originals and/or copies of other documents according to the instructions specified in the e-mail sent to them in line with subpar. 3.2.4 of these GTC. The User may scan and upload all the documents through the application on the Portal within the aforementioned time limit. Otherwise, iSale, v. o. s. is entitled to terminate the process of verifying the User, deny entering into the Framework Agreement on Cooperation with the User and to cancel the registration and the Virtual User Account.

3.3 External Verification and Assessment of User’s Financial Standing (Scoring), Achievement of Debtor Status

3.3.1 1 In order to enter into the Framework Agreement on Cooperation with iSale, v. o. s., and to achieve the Debtor status, the User will undergo the external verification (subpar. 3.3.2 of GTC) and assessment of the User’s financial standing (scoring) (subpar. 3.3.3 GTC).

3.3.2 External verification of the User, who wishes to enter into the Framework Agreement on Cooperation with iSale, v. o. s. and thus to achieve the status of the Debtor, iSale, v. o. s. will ensure comparing the data entered by the User under subpar. 3.2.1 of GTC and/or notified through the documents and papers delivered by the User with the data about the User specified in the non-public databases and registers. In the case any discrepancies are identified, iSale, v. o. s. will terminate the process of verifying the User, will not enter into the Framework Agreement on Cooperation with the User and will be entitled to cancel the registration and Virtual User Account. In the case compliance is identified, iSale, v. o. s. will ensure assessment of such User’s financial standing (scoring) through iService, a. s. (subpar. 3.3.3 of GTC).

3.3.3 Assessment of the financial standing (scoring) of the User who wishes to enter into the Framework Agreement on Cooperation with iSale, v. o. s. and achieve the status of a Debtor, iService, a. s. will perform assessment of such User’s creditworthiness (standing), through the automated assessment of the financial standing (assessment of the data entered by the User during registration and their assessment by the internal expert algorithm that takes into consideration the relevant incomes and expenses of the User, their personal and property characteristics, credit risk associated with particular persons as well as other relevant socio-demographic and other data) and manual verification (verification of the identity, employment relationship and wage with the employer by phone and other methods according to the internal methodology). For the purpose of manual assessment of the financial standing according to the preceding sentence the User must provide consent to all entities concerned for providing the required data and information and/or release all entities concerned from confidentiality concerning the required data and information on the User. The User will be informed about the result of this assessment of the financial standing (scoring) immediately by e-mail, which will include information on compliance or non-compliance with the conditions for entering into the Framework Agreement on Cooperation and achieving the status of the Debtor.

3.3.4 In the case of unsuccessful assessment of the financial standing (scoring), iSale, v. o. s. will terminate the process of verifying the User, will not enter into the Framework Agreement on Cooperation with the User and will be entitled to cancel the registration and Virtual User Account.

3.3.5 In the case of successful assessment of the financial standing (scoring), the e-mail will also include information about categorisation of the User in the relevant Rating Group and determine the interest rate and maximum amount of the loan that can be provided to the User in the case of achieving the Debtor status. Successful assessment of the financial standing (scoring) results in completion of the User verification process, automatic activation of the Virtual User Account and delivery of the Framework Agreement on Cooperation and GTC together with the Price List for signing to the User. By signing the Framework Agreement on Cooperation and GTC together with the Price List by both parties, the Agreement becomes valid and effective and the User will achieve the status of the Debtor entitled to use the services of the Internet Portal. The User is obliged to deliver two counterparts of the Framework Agreement on Cooperation signed by them and one counterpart of GTC including the Price List signed by them back to iSale, v. o. s. not later than on the date the Loans Agreement signed by them is delivered (subpar. 6.1 et seq. of GTC).

3.4 Framework Agreement on Cooperation Entered into by iSale, v. o. s. and Debtor

3.4.1 The subject matter of the Framework Agreement on Cooperation, under which the User achieves the status of the Debtor, is the obligation of iSale, v. o. s. to provide the Debtor with the services of the Internet Portal, in particular the following services:

3.4.1.1 Active access to the Internet auction of loans operated on the Internet Portal (i.e. including, without limitation, placing the demand for loan in the Internet auction of loans, establishment of the Internet auction of loans, administration of auction, completing and processing the auction) for the purpose of creating the opportunity to enter into the Loan Agreement with the Investor according to the Internet auction of loans through iService, a. s., acting in the name and behalf of the Investor,

3.4.1.2 Administration of the Virtual Debtor Account,

3.4.1.3 Provision of other services in using the Internet Portal specified in greater detail in the following provisions of these GTC as well as the obligation of the Debtor to pay commission to iSale, v. o. s. for providing the aforementioned service of the Internet Portal in the form of the fee for providing the loan in the amount set out in the Price List, which forms a part of these GTC (subpar. 11. of GTC) and to pay other agreed fees for the individual acts, and/or services of iSale, v. o. s. in the amount set out in the Price List, which forms a part of these GTC (subpar. 11. of GTC).

3.4.2 In order to ensure proper performance of the services which are the subject matter of the Framework Agreement on Cooperation, the Debtor will grant necessary power of attorney to iSale, v. o. s. The proof of the granted power of attorney will be this Framework Agreement on Cooperation.

3.4.3 After signing the Framework Agreement on Cooperation iSale, v. o. s. will send one counterpart of the Framework Agreement on Cooperation to the Debtor by post.

3.4.4 The Debtor expressly represents and by signing the Framework Agreement on Cooperation and these GTC including the Price List, which form an integral part of the Framework Agreement on Cooperation, confirms that:

3.4.4.1 Prior to signing the Framework Agreement on Cooperation they read carefully and in detail the contractual terms and conditions in writing, GTC including the Price List forming a part of the Agreement, and agree with them,

3.4.4.2 Knows the extent of the power of attorney granted to iSale, v. o. s. and will proceed in line with the power of attorney.

3.4.5 Under the Framework Agreement on Cooperation iSale, v. o. s. is entitled to commission for entering into the Loan Agreement and/or for procurement opportunities to enter into the Loan Agreement with the Investor in the form of a fee for providing the loan in the amount determined in the Price List (subpar. 11. of GTC). The fee (commission) under the preceding sentence will be paid to iSale, v. o. s. through iService, a. s., which will deduct the sum of money corresponding to the agreed amount of the fee (commission) separately and automatically in the name and on behalf of iSale, v. o. s. from the sum of the funds provided by the Investors for the purpose of the loan under the Loan Agreement and the fee (commission) will be credited to the Bank Account of iSale, v. o. s. For further services or acts provided to the Debtor under the Framework Agreement on Cooperation, and/or under these GTC, iSale, v. o. s. will be entitled to be paid the fees in the amount according to the Price List (subpar. 11. of GTC).

3.4.6 iSale, v. o. s. does not guarantee the Debtor any fulfilment of the Investor’s obligations resulting from the Loan Agreement.

4. Achieving the Status of Investor

4.1 Registration and Creation of the Virtual User Account

4.1.1 In order to register and create the Virtual User Account on the Internet Portal the User, who wishes to enter into the Framework Agreement with iService, a. s. and thus achieve the status of the Investor, is obliged to enter the name and surname, selected Username and e-mail address, or other data required by the Internet Portal and accept GTC including the Price List by clicking on the relevant box on the Internet Portal. By clicking on the relevant box on the Internet Portal the User represents that they have carefully and in detail read these GTC including the Price List, understood their content and the User undertakes to comply with these GTC including the Price List. The User is also obliged, by clicking on the relevant box on the Internet Portal, to grant consent to processing their personal data.

4.1.2 Following the proper and correct completion of the required data, their delivery and approval of the binding effect of GTC including the Price List (subpar. 4.1.1 of GTC) and granting consent to processing the personal data (subpar. 4.1.1 of GTC), the Internet Portal will send the welcome e-mail to the User, which will include a randomly generated Password, hypertext link to the Internet Portal and the call to change the randomly generated Password. By successful change of the randomly generated Password the Virtual User Account will be created automatically for the User, who wishes to achieve the status of the Investor.

4.1.3 Following the connection to the Internet Portal and change of the randomly generated Password (subpar. 4.1.2 of GTC) the User, who wishes to achieve the status of an Investor, is obliged, for the purpose of completing the registration process, to enter the personal data, contact data, their bank details as well as other data in the extent required by the Internet Portal through the on-line form generated by the Internet Portal. By completing and sending the on-line form according to the preceding sentence under this paragraph of GTC the registration process will be completed for the User, who wishes to achieve the status of an Investor. The Internet Portal will subsequently send the email to the User, to which a copy of GTC including the Price List and Framework Agreement on Cooperation will be attached.

4.1.4 In addition to the data specified in subpar. 4.1.3 of these GTC the User is entitled to provide also other information about them on a voluntary basis.

4.1.5 The User must always enter the correct and true data required under subpar. 4.1.1 and 4.1.3 of GTC. Entering the incorrect or untrue data will result in denying or cancelling the registration of the User, and/or denial to create or cancellation of the Virtual User Account.

4.1.6 The User is entitled to enter and use only one Username, which may not be libellous, defamatory, obscene, it must not be confused with the name of another User and may not create a false impression of the User, their personality, identity, characteristics, and connections with other persons. The Internet Portal is authorized to refuse the Username entered by the User during registration, which does not meet the criteria set out in the preceding sentence, and to prompt the User to select a new Username.

4.1.7 Through the Internet Portal the User is entitled to create and use only one Virtual User Account for the User, who wishes to achieve the status of an Investor and one Virtual User Account for the User, who wishes to achieve the status of a Debtor. Violation of this obligation constitutes the reason for denial or cancellation of the User’s registration and/or denial to create a new Virtual User Account or cancellation of all Virtual User Accounts.

4.1.8 The User acknowledges that based on the registration and creation of the Virtual User Account the User will not be automatically entitled to use all services provided through the Internet Portal (i.e. including, without limitation, the option to use the Internet auction of loans and Internet auction of receivables). The right to use all services provided through the Internet Portal will ensue for the User by entering into the Framework Agreement on Cooperation with iService, a. s. and by achieving the status of the Investor under the terms and conditions specified in these GTC.

4.1.9 User, who wishes to enter into the Framework Agreement on Cooperation with iService, a. s. and thus achieve the status of the Investor, acknowledges that entering into the Framework Agreement on Cooperation and achieving the status of the Investor is subject to successful registration on the Internet Portal and creation of the Virtual User Account (subpar. 4.1 of GTC) and successful verification of identity (4.2 of GTC).

4.2 Verification of User’s Identity, Achieving the status of Investor

4.2.1 After creation of Virtual User Account for the User, who wishes to achieve the status of an Investor, the User must deliver two signed counterparts of the Framework Agreement on Cooperation and a copy of their ID card to iService, a. s. The Investor may scan and upload all the documents through the application on the Portal www.zltymelon.sk. The User will be immediately informed of the results of verifying their identity by e-mail, the content of which will include information on delivery of the required documents, successful or unsuccessful verification of User’s identity, i.e. compliance or non-compliance with the terms and conditions for entering into the Framework Agreement on Cooperation and achieving the status of the Investor.

4.2.2 In the case of unsuccessful verification of the User’s identity (subpar. 4.2.1 of GTC) and determination of discrepancies in the data entered by the User during the registration and data in the submitted documents, iService, a. s. will terminate the process of registering such User, will not enter into the Framework Agreement on Cooperation with the User and will be entitled to cancel the registration and the Virtual User Account.

4.2.3 In the case of successful verification of the User’s identity (subpar. 4.2.1 of GTC) and compliance of the data entered by the User during their registration with the data specified in the presented documents, the e-mail (subpar. 4.2.1 of GTC) will also include information on compliance with the terms and conditions for entering into the Framework Agreement on Cooperation with iService, a. s. and achieving the status of the Investor. Successful verification of identity and delivery of e-mail under subpar. 4.2.1 of GTC will result in completing the process of registering the User, automatic activating the Virtual User Account and signing Framework Agreement on Cooperation by iService, a. s. After the Framework Agreement on Cooperation is signed by iService, a. s., the Agreement becomes valid and effective and the User achieves the status of the Investor entitled to use the services of the Internet Portal.

4.3 Framework Agreement on Cooperation Enter into between iService, a. s. and Investor

4.3.1 The subject matter of the Framework Agreement on Cooperation, under which the User achieves the status of the Investor, is the obligation of iService, a. s. to provide the Investor with the services of the Internet Portal, in particular the following services:

4.3.1.1 Active access to the Internet auction of loans and Internet auction of receivables (i.e. including, without limitation, searching the loans in the demands or receivables in the supplies, placement of an offer of the loan or receivable),

4.3.1.2 Entering into the Loan Agreement with the Debtor based on the results of the Internet auction of loans in the name and on behalf of the Investor, or entering into the Agreement on Wage Deductions in the name and on behalf of the Investor with the Debtor,

4.3.1.3 Entering into Agreement on Assignment of Receivable with another Investor based on the result of the Internet auction of receivables in the name and on behalf of the Investor, premature termination of the Agreement on Assignment of Receivable in the name and on behalf of the Investor,

4.3.1.4 Ensuring collection of the funds from the Investor for the purpose of providing them to the Debtor under the signed Loan Agreement or for the purpose of repaying them to another Investor under the signed Agreement on Assignment of Receivable as consideration for the assigned receivable,

4.3.1.5 Ensuring collection of the loan instalments from the individual Debtors and their payment to the Investor, ensuring collection of wage deductions from the Debtor’s employer under the Agreement on Wage Deductions and their payment to the Investor or ensuring collection of consideration from another Investor for the assigned receivable and its payment to the Investor,

4.3.1.6 Ensuring administration and monitoring of loan repayments by the individual Debtors,

4.3.1.7 Ensuring enforcement of loan repayment by the individual Debtors, including enforcement through general or arbitration courts as well as through the foreclosure proceedings,

4.3.1.8 Entering into the Agreement on Assignment of Receivable with ZOPI, in the name and on behalf of the Investor, including safeguarding collection of the consideration for the assigned receivable,

4.3.1.9 Ensuring collection of the Debtor’s consideration arising from Bill of Exchange under the Agreement on Use of the Bill of Exchange and its redemption to the Investor in the case the Debtor’s obligations under the Loan Agreement are secured by the Bill of Exchange,

4.3.1.10 Providing other services in using the Internet Portal specified in more detail in the provisions of these GTC, as well as the Investor’s obligation to pay iService, a. s. for the administration of the receivable from the Debtor resulting from the loan under the Loan Agreement (subpar. 4.3.1.1, 4.3.1.4 to 4.3.1.10 of these GTC), consideration in the form of the agreed fees for the individual acts and/or services of iService, a. s. in the amount set in the Price List forming a part of these GTC (subpar. 11. of GTC). The Parties have agreed that iService, a. s. is entitled to provide the aforementioned services also through any other iService Group company or any third person.

4.3.2 The subject matter of the Framework Agreement on Cooperation also includes the obligation of iService, a. s. to enter into the Loan Agreement with parameters according to the result of the Internet auction of loans operated on the Internet Portal in the name and on behalf of the Investor. For the purpose of entering into the Loan Agreement under the preceding sentence of this paragraph, the Investor must entrust their funds determined for providing the loan into the administration of iService, a. s., which subsequently will provide the funds to the Debtors, with whom iService, a. s. will enter into the Loan Agreement in the name and on behalf of the Investor based on the results of the Internet auction of loans performed on the Internet Portal. The subject matter of the Framework Agreement on Cooperation also includes the obligation of iService, a. s. to enter into the Agreement on Assignment of Receivable with parameters according to the result of Internet auction of receivables operated on the Internet Portal in the name and on behalf of the Investor acting as an assignor, with a selected another Investor acting as an assignee.

4.3.3 In order to ensure proper performance of the services which are the subject matter of the Framework Agreement on Cooperation, the Investor will grant necessary power of attorney to iService, a. s. The proof of the granted power of attorney will be this Framework Agreement on Cooperation.

4.3.4 After signing the Framework Agreement on Cooperation iService, a. s. will send one counterpart of the Framework Agreement on Cooperation to the Investor by post.

4.3.5 Investor expressly represents and by signing the Framework Agreement on Cooperation confirms that:

4.3.5.1 Prior to signing the Framework Agreement on Cooperation they read carefully and in detail the contractual terms and conditions in writing, GTC including the Price List forming a part of the Agreement, and agree with them,

4.3.5.2 Knows the extent of the power of attorney granted to iService, a. s. and will proceed in line with the power of attorney.

4.3.6 Under the Framework Agreement on Cooperation iService, a. s. is not entitled to commission. For the services or acts provided to the Investor under the Framework Agreement on Cooperation, and/or under these GTC iService, a. s. will be entitled to be paid the fees in the amount according to the Price List (subpar. 11. of GTC).

5. Internet Auction of Loans and Internet Auction of Receivables

5.1 Internet auction of loans and Internet auction of receivables is an automatic instrument operated on the Internet Portal for the purpose of matching the supply of loans of Investors and demand for loans by the Debtors or supply of receivables of the Investors and demand for receivables of other Investors under the conditions set by the Framework Agreement on Cooperation, instructions specified on the Internet Portal and these GTC including the Price List valid and effective on the date each individual auction is held (subpar. 5.7 and 5.14 of GTC). The result of auction is the basis for the decision of the Debtor and Investor about entering into the Loan Agreement and determining its essential prerequisites, i.e. in particular the amount of the loan, interest rate and maturity and/or the basis for the decision by the two Investors to enter into the Agreement on Assignment of Receivable and determination of its essential prerequisites, i.e. particularly the specifications of the assigned receivable and the amount of the consideration for the assignment.

5.2 The Debtor will enter their demand for Loan in the Internet auction of loans through the special electronic on-line form generated by the Internet Portal, where the Debtor is obliged to determine the detailed specifications of the required loan including its parameters. In particular, the following data: required amount of the loan, the purpose of required loan, maturity period, required set of insurances and other data specified in the on-line form. In entering their demand for a loan the Debtor is obliged to comply with the maximum amount of the loan determined by assessment of their financial standing (scoring) (subpar. 3.3.5 of GTC).

5.3 The Investor will enter their supply of receivable in the Internet auction of receivables through the special electronic on-line form generated by the Internet Portal, where the Investor is obliged to specify the required consideration for assignment of the receivable and also other data specified in the on-line form. The Investor is entitled to offer for assignment several or even all their receivables from the Debtor and/or Debtors, which resulted from the Loan Agreement entered into through the Internet auction of loans. In such case the subject matter of the Internet auction of receivables and the Agreement on Assignment of Receivable includes all such receivables.

5.4 Participation of the Investor and Debtor in each individual auction and entering into each individual Loan Agreement or Agreement on Assignment of Receivable according to the result of such auction, is subject to granting consent to the content of GTC including the Price List, valid and effective on the date the validity of individual auction commences and published and available on the Internet Portal by clicking on the relevant box on the Internet Portal, and/or by signing the valid and effective version of GTC including the Price List. The Investor may participate in the Internet auction of loans also subject to transferring the minimum amount of the loan offered by them (investment) in the determined currency from their Individual bank account to the Bank Account of the Internet Portal. The investment amount will be subsequently credited to the Clearing Account of this Investor. The condition for Investor’s participation in the Internet auction of receivables include:

5.4.1 In the case of the Investor, who wishes to become a creditor concerning the receivable subject to assignment: the Clearing Account of such Investor must contain sufficient funds in the determined currency, namely in the minimum amount of the offered sum of the consideration for assigning the receivable.

5.4.2 In the case of the Investor, who wishes to assign their receivable to another Investor: existence of the receivable from the Debtor arising under the Loan Agreement entered into through the Internet auction of loans operated on the Internet Portal.

5.5 In the Internet auction of loans and Internet auction of receivables the Investor is entitled to go through the demands for loans from the individual Debtors or supply of receivables from other Investors, and through their data published on the web site, and ask the Debtors or Investors the questions with regard to their demand for loan, supply of receivables, Debtor’s employment, income, education and other similar information, which a Debtor or Investor will answer. The questions of the Investors and answers of the individual Debtors or Investors are available to all Internet Portal Users on the Internet Portal. The Investor may not ask the Debtor or another Investor the questions that unreasonably and unlawfully interfere with the rights to protection of personality of the Debtor or Investor, and / or questions about their race, colour, language, belief and religion, political or other opinions, trade union activities, national or social origin, nationality or ethnic origin group, or other status etc. The Debtor or the Investor is not obliged to answer questions of another Investor. If they decide to answer the questions raised by the Investor, they must answer truthfully and knowingly and not conceal any relevant information.

Internet auction of loans

5.6 Through the Internet Portal and Internet auction of loans the Investor is entitled to distribute the offered (invested) amount of Loan among individual Debtors individually, based on their own evaluation of disclosed data and the demand for loan of individual Debtors (subpar. 5.4 of GTC). In selecting the individual Debtors and distributing the offered (invested) amount of loan (subpar. 5.4 of GTC) the Investor is obliged to respect the minimum and maximum amount of the loan, which can be provided to the individual Debtors, set by the Internet Portal, minimum and maximum amount of the loan (investments), the determined currency of the loan as well as other restrictions of the determined Internet Portal so that the risk of credit default is sufficiently diversified among several Debtors. The interest rate is set by the Investor individually for each their investment based on their own evaluation of disclosed data and the demand for loan of individual Debtors; the interest rate for the individual Debtors determined by the Internet Portal represents only the recommended interest rate. Based on the selection of the individual Debtors and distribution of the offered (invested) amount of the loan up to the amount of the Loan (investment) offered in the said currency by the Investor, the funds on the Clearing Account of the Investor will be blocked. Performed selection of the individual Debtors and distribution of the offered (invested) amount of the loan the Investor is not entitled to change or withdraw.

5.7 The validity period of each auction, the subject matter of which is entering into the Loan Agreement, is determined by the Internet Portal.

5.8 If based on the Internet auction of loans the required loan amounting to at least EUR 500 or CZK 10,000 is created from the offers of loans of the individual Investors for the Debtor as at the time the validity of auction expires (subpar. 5.7 of GTC), the auction will be successful and completed regardless of the amount of the loan required by the Debtor in their demand (subpar. 5.2 of GTC).

5.9 If based on the Internet auction of loans the required loan in the amount required by the Debtor is created from the offers of loans of the individual Investors for the Debtor through their demand (subpar. 5.2 of GTC) even prior to the time the validity of auction expires (subpar. 5.7 of GTC), the auction will be successful and completed at the discretion of the Debtor either upon due expiry of the term of the auction (subpar. 5.7 GTC) or a manual premature termination by the Debtor.

5.10 The final interest rate on the loan provided to the Debtor will be determined as the weighted average of interest rates set by the individual Investors involved in providing the loan to the Debtor.

5.11 If based on the Internet auction of loans the required loan amounting to at least EUR 500 or CZK 10,000 is not created from the offers of loans of the individual Investors for the Debtor as at the time the validity of auction expires (subpar. 5.7 of GTC), the auction will be unsuccessful. The Debtor will be informed by e-mail from the Internet Portal about unsuccessful completion of the auction.

5.12 After successful completion of the auction, the aim of which is to enter into the Loan Agreement (subpar. 5.8 and 5.9 of GTC), the Internet Portal will send an e-mail to the Debtor, which will include information about successful completion of the Internet auction of loans and successful creation of the particular offer of the loan in the required amount from the offers of the individual Investors. The e-mail will also include the form specifying the conditions of the offered loan, an indicative timetable for repayment of the loan, Loan Agreement, valid and effective GTC, including the Price List, the insurance terms if insurance is selected, deadline for acceptance of the sent draft Loan Agreement, or other terms and conditions and instructions in connection with conclusion of the Loan Agreement.

5.13 The Investor is entitled to substitute the individual choosing of the Debtors, who will be offered by the loan, by activating automatic tool provided by the Internet Portal – Autoinvest. According to the set parameters of the Autoinvest the Internet Portal shall automatically make the offers of the loans to relevant Debtors. The Investor is entitled to activate the Autoinvest and set its particular parameters during the registration and creating of Virtual User Account as well as later during the validity of the Framework Agreement on Cooperation after obtaining of the status of the Investor. Investor shall be anytime entitled to change the setup of the parameters of Autoinvest as well as to deactivate the tool. The change of the setup of the Autoinvest shall apply to Internet auction of loans which will be hold after the change of the setup. Investor hereby declares that is acknowledged with the fact that even in case the Autoinvest will be active, the Internet Portal has an option not to make the offer of the loan to the relevant Debtor. The decision whether the Internet Portal will make the offer or not, shall be made according to internal algorithm of the Internet Portal, that was setup in a way that Internet Portal does not prefer any of the Investors. Offers made by using Autoinvest are considered to be made by the Investor himself and all relevant contractual provisions shall apply.

Internet auction of receivables

5.14 By the Internet Portal and Internet auction of receivables the Investor is entitled to offer individually and at their own discretion their existing receivable from the Debtor arising under the Loan Agreement entered into the Internet auction of loans, for assignment to another Investor (subpar. 5.3 of GTC). The period of the Internet auction of receivables is not set in advance. The Investor, who offered their claim for assignment (subpar. 5.3 GTC), is entitled to terminate the Internet auction of receivables at any time until the time when some of the Investors, who wish to become the creditors in the offered receivable, clicks on “Buy now” (subpar. 5.17 of GTC).

5.15 Based on the Investor’s demand (subpar. 5.3 GTC) other Investors wishing to become a creditor in the offered receivable are entitled to enter their offers through the Internet Portal during the Internet auction of receivables. Each Investor wishing to become a creditor in the offered receivable is obliged to specify in their offer the amount of the offered consideration for the assigned receivable and the validity period of the offer. If the object of the Internet auction of receivables includes several or all Investor’s receivables (subpar. 5.3 GTC) the offer of the Investor, wishing to become a creditor in the receivables, must include the total amount of the consideration for all receivables offered. At the same time they must have sufficient funds on their Clearing Account in the determined currency and at least in the amount of the consideration offered by them for assignment of the receivable; the funds in the determined currency in the amount of the consideration offered by them for assignment of the receivable will be blocked for that purpose during the entire validity period of the offer.

5.16 The Investor, who offered their receivable for assignment (subpar. 5.3 of GTC), is entitled to accept the current highest offer of the Investor, wishing to become a creditor in the offered receivable (subpar. 5.15 of GTC); upon acceptance of the highest offer the Internet auction of receivables is considered completed and the Investor, who offered the receivable for assignment, and the Investor, who accepted the offer, must enter into the Agreement on Assignment of Receivable, within 5 days from the date the auction is completed.

5.17 If during the Internet auction of receivables any Investor offers, by clicking the option “Buy now”, the amount of the required consideration specified in the Investor’s demand (subpar. 5.3 GTC) for assignment of the offered receivable, the auction is considered to be completed, and the Investor, who offered their receivable for assignment, and the Investor, who offered the consideration by clicking the option “Buy now”, must enter into the Agreement on Assignment of Receivable, within 5 days from the date the auction is completed.

5.18 After completion of the auction in the manner under subpar. 5.16 and 5.17 of these GTC, the Internet Portal will send the e-mail to both Investors, which will include information on completed Internet auction of receivables, successful assignment of the receivable and the copy of the Agreement on Assignment of Receivable to be signed by iService, a. s. in the name and on behalf of both Investors. The e-mail for the Investor acting as an assignee will also include information about the conditions and parameters of the receivable in respect of which the Investor became the creditor under the Agreement on Assignment of Receivable as well as other information and documents under subpar. 7.1 of these GTC related to the assigned receivable.

5.19 The Investor expressly represents and by signing the Framework Agreement on Cooperation confirms that:

5.19.1 They are aware of the fact that the Agreement on Assignment of Receivable will be entered into directly by iService, a. s. in their name and on their behalf according to the result of Internet auction of receivables and in line with provisions of these GTC and at the same time they grant express consent to such procedure;

5.19.2 They read thoroughly the standard content of the Agreement on Assignment of Receivable published on the Internet Portal and agrees that in the case of due completion of the Internet auction of receivables in any manner under subpar. 5.16 and 5.17 of these GTC, iService, a. s. signs in their name and on their behalf the Agreement on Assignment of Receivable in the wording supplemented by exact specification of the assigned receivable.

6. The Loan Agreement and Agreement on Assignment of Receivable

6.1 The time limit for accepting the delivered draft Loan Agreement (subpar. 5.12 of GTC) is seven (7) days from the date the e-mail notification of successful auction under subpar. 5.12 of these GTC is delivered. Within the set time limit the Debtor is obliged to express their consent or disconsent to the draft Loan Agreement in the manner and under the conditions set in this Article of GTC, otherwise the Debtor’s right to accept the draft Loan Agreement will cease to exist.

6.2 The Debtor will express their consent to the draft Loan Agreement in line with the set instructions and conditions of the Internet Portal by delivery of the required number of the signed counterparts of the Loan Agreement to iService, a. s., including other required documents, provided that the Debtor’s identity and originality of the required documents must be verified. At the Debtor’s discretion the delivery of the signed counterparts of the Loan Agreement in the required number and verification of the identity and originality of the required documents under the preceding sentence may be performed in the form of notary’s authentication and registered mail (subpar. 6.3 of GTC).

6.3 Under the set instructions and conditions of the Internet Portal the Debtor will print and sign the required number of counterparts of the Loan Agreement, while their signature on the required number of the counterparts of the Loan Agreement must be authenticated by a notary. Subsequently the Debtor will send the required number of counterparts of the Loan Agreement and a copy of their ID card by registered mail to the address of iService, a.s.

6.4 By signing the Framework Agreement on Cooperation, Loan Agreement and these GTC including the Price List the Debtor represents that they acknowledge and accept the fact that the loan will be provided to them according to the result of the Internet auction of loans operated on the Internet Portal and under the Loan Agreement entered into with the Investor, in whose name and on whose behalf iService, a. s. acts. By signing the Framework Agreement on Cooperation, Loan Agreement and these GTC including the Price List the Debtor further represents that they acknowledge and accept the fact that the funds of the loan provided to them according to the result of the Internet auction of loans operated on the Internet Portal, are not owned by iService, a. s. to other iService Group companies, but the funds are in exclusive ownership of the individual Investors, who are in the contractual relationship with with iService, a. s. or any other iService Group company, in whose name and on whose behalf the Loan Agreement is entered into. By signing the Framework Agreement on Cooperation, Loan Agreement and these GTC including the Price List the Debtor accepts that the identity of the Investor, who provided loan funds through iService, a. s. or other iService Group companies, will not be disclosed to them and that the Investor will be identified in the Loan Agreement by their Username, under which the Investor was registered on the Internet Portal.

6.5 Under the Loan Agreement entered into by the Debtor and the Investor, in whose name and on whose behalf iService, a. s. acts, the Investor undertakes to provide the Debtor with the funds within 15 days from the date of request and the Debtor undertakes to return the provided funds and pay the interest. The exact amount of the provided funds, agreed interest rate, maturity of the individual loan instalments or the purpose of the loan as well as other rights and obligations of the Parties are specified in the Loan Agreement. Signing the Loan Agreement and delivering it to iService, a. s. (subpar. 6.2 and 6.3 of GTC) is considered to be the Debtor’s application for providing the loan in the agreed amount. By signing the Framework Agreement on Cooperation, Loan Agreement and these GTC including the Price List the Debtor further represents that they acknowledge and accept the fact that the creditors under the Loan Agreement are the individual Investors, in whose name and on whose behalf iService, a. s. acts, while it does not concern a joint (solidary) receivable of the Investors.

6.6 The Debtor is entitled to repay the entire provided loan or any of the loan instalments before the due date specified in the Loan Agreement. In the event of early repayment of the entire provided loan or any of the loan instalments under the preceding sentence of this paragraph of GTC, the Debtor will pay the fee in the amount specified in the Price List (subpar. 11. of GTC).

6.7 The Loan Agreement may be terminated prematurely:

6.7.1 By mutual written agreement of the Investor, in whose name and on whose behalf iService, a. s. acts, and the Debtor,

6.7.2 By rescission of the Investor, in whose name and on whose behalf iService, a. s. acts, from the Loan Agreement (subpar. 6.8 of GTC).

6.8 The Investor, in whose name and on whose behalf iService, a. s. acts, is entitled to rescind the Loan Agreement in the cases specified in these GTC, in the case of premature termination of the Framework Agreement on Cooperation for reasons on the Debtor’s side and in the case of substantial violation of the Loan Agreement by the Debtor. Substantial violation of the Loan Agreement by the Debtor always means Debtor’s delay with performing the contractual obligations or any of them by more than 15 days as well as violation of the Debtor’s obligations set in subpar. 6.1 of GTC. By rescission of the Investor, in whose name and on whose behalf iService, a. s. acts, the Loan Agreement will be terminated if the express of the will to rescind the Loan Agreement is delivered to the Debtor. If the notice of rescinding the Loan Agreement cannot be delivered to Debtor to the address of their permanent residence specified in the Loan Agreement, the mail that includes the notice of rescinding the Loan Agreement, is considered to be delivered upon lapse of three (3) days from the date the mail is returned as undelivered, even if the Debtor learns of the fact.

6.9 The Debtor is not entitled to terminate or rescind the Loan Agreement entered into with the Investor, in whose name and on whose behalf iService, a. s. acts during the entire term of validity and effectivity.

6.10 The final repayment schedule forms and integral part of the Loan Agreement, which repayment schedule will be delivered to the Debtor after the loan is provided (subpar. 7.2 of GTC). The Loan Agreement is entered into for a definite period until repayment of the entire provided loan, interest and other accessories. Any amendments to the Loan Agreement must be in the form of a written amendment signed by both parties. The rights and obligations of the Parties to the Loan Agreement or these GTC including the Price List not expressly regulated thereby are governed by the applicable provisions of the applicable generally binding legal regulations.

6.11 Along with the Loan Agreement the Debtor is entitled to take the loan and accessories repayment insurance.

6.12 According to the result of the internal and external verification of the Debtor and the result of the financial standing (scoring) assessment (subpar. 3.2 and 3.3 of GTC), the Internet Portal is entitled to determine that provision of the loan under the Loan Agreement is subject to securing the obligation of the Debtor under the Loan Agreement in one or in both manners specified below:

6.12.1 Entering into the Agreement on Wage Deductions between the Investor, in whose name and on whose behalf iService, a. s. acts, and the Debtor,

6.12.2 Issuing the Debtor’s Bill of Exchange and entering into the Agreement on Use of Bill of Exchange.

In such case the draft documents concerning the required method of securing the Debtor’s obligation under the Loan Agreement (draft Agreement on Wage Deductions, draft Bill of Exchange and the Agreement on Use of Bill of Exchange) delivered to the Debtor by e-mail in line with subpar. 5.12 of GTC. The procedure specified in par. 6.1 to 6.4 of these GTC will be applied accordingly. In the case no security is provided in line with this paragraph of GTC, the Debtor will not be entitled to be granted a loan and the Investor, in whose name and on whose behalf iService, a. s. acts, is entitled to rescind the Loan Agreement.

6.13 The Agreement on Assignment of Receivable becomes valid and effective at the moment it is signed by both parties (subpar. 5.18 of GTC), in whose name and on whose behalf iService, a. s. acts. Under the Agreement on Assignment of Receivable one Investor may assign their receivable from the Debtor or several or even all their receivables from the Debtors to only one Investor.

6.14 Under the Agreement on Assignment of Receivable the Investor will assign their receivable from the Debtor arising under the Loan Agreement entered into through the Internet auction of loans operated on the Internet Portal for the agreed consideration to another Investor. The exact specification of the assigned receivable, the consideration for assignment as well as other rights and obligations of the parties are included in the Agreement on Assignment of Receivable. Assignment of the receivable under the Agreement on Assignment of Receivable must be notified by the Investor acting as an assignor, in whose name and on whose behalf iService, a. s. acts, to the Debtor without undue delay.

6.15 The payment of the agreed consideration for the assigned receivable will be performed so that iService, a. s. will debit the amount from the Clearing Account of the Investor acting as an assignee and after deducting the relevant fees (subpar. 11. of GTC), the sum will be credited to the Clearing Account of the Investor acting as an assignor without undue delay who can use the funds in any of the manners specified in subpar. 8.2.1 to 8.2.3 of these GTC.

7. Provision of the Loan

7.1 After entering into the Loan Agreement and delivering its signed counterpart to iService, a. s. (Art. 6. of GTC), the Internet Portal will send e-mail, which will include information on the Loan Agreement and the confirmation of the loan granted by Investor to the Debtor, to the Investor, in whose name and on whose behalf the Loan Agreement was entered into.

7.2 Under the Loan Agreement and Debtor’s application for provision of the agreed amount of the loan (subpar. 6.5 of GTC) iService, a. s. will unblock the agreed amount of the loan from the Investor’s Clearing Account and after deducting the fee for the provision of the loan (subpar. 3.4.5 and 11. of GTC) iService, a. s. will transfer them to the Debtor’s Individual bank account. After crediting the relevant amount (subpar. 7.3.) to the Debtor’s Individual Account, the Internet Portal will send to the Debtor and Investor the e-mail, to which the final repayment schedule concerning the concluded Loan Agreement will be attached.

7.3 By signing the Framework Agreement on Cooperation and these GTC including the Price List, the Debtor grants to iService, a. s. their express consent to individual and automatic deduction from the loan of the fee for provision of the loan in the name and on behalf of iSale, v. o. s. (subpar. 3.4.5 and 11. of GTC) and only the amount of the loan so reduced will be transferred to the Debtor’s Individual Account. By signing the Framework Agreement on Cooperation and these GTC including the Price List, the Parties further expressly accept and agree that crediting of the agreed loan amount on the individual Debtor’s account is considered to be the real moment of providing the loan to the debtor in accordance with the concluded Loan Agreement.

7.4 The loan provided to the Debtor according to the result of Internet auction of loans and Loan Agreement may be provided as a specific purpose loan or general purpose loan. If the Debtor is interested in being provided a specific purpose loan, in their demand (subpar. 5.2 GTC) they are obliged to specify the purpose of the loan and deliver to iService, a. s. all required documents and papers (e.g. confirmation of the amount of the obligation etc.); otherwise iService, a. s. is entitled to deny the Debtor’s access to the Internet auction of loans. At the same time the Debtor is obliged to deliver iService, a. s. the written confirmation within 60 days from the date the specific purpose loan is provided, which confirmation must state that the loan was provided for the agreed purpose; otherwise the Investor, in whose name and on whose behalf iService, a. s. acts, is entitled, at their own discretion, to rescind the Loan Agreement or declare premature maturity of the loan and proceed in the manner set out in subpar. 9.8 of these GTC or impose the additional sanctions on the Debtor in line with the provisions of the Loan Agreement.

8. Loan Repayment

8.1 Under the Loan Agreement the Debtor is obliged to duly and timely perform the obligations arising from the Agreement, in particular to duly and timely pay the agreed loan instalments along with the accessories to thw Bank Account of iService, a. s. in the agreed amount and on the agreed repayment dates. The Debtor must fulfil the obligation on time so that the payment is credited in full to the Bank Account of iService, a. s. not later than on the due date. For each payment the Debtor is obliged to specify the variable symbol set in the Loan Agreement and final repayment schedule.

8.2 After crediting the individual loan instalments with accessories to the Bank Account of iService, a. s. in line with the Loan Agreement, iService, a. s. will provide the funds, after deducting the administration fee under the Price List (subpar. 11. of GTC) and after deducting the insurance premium, if any (subpar. 6.11 GTC), to the Clearing Account of the Investor, who may use the funds in any of the following manners, without undue delay:

8.2.1 Use the funds on their Clearing Account for entering another offer of the loan through the Internet Portal; in such case the Investor will proceed in line with provisions of par. 5. et seq. of these GTC,

8.2.2 Transfer the funds to their Individual bank account,

8.2.3 Keep the funds temporarily in their Clearing Account and subsequently use them in the manner specified in subpar. 8.2.1 or 8.2.2 of these GTC.

8.3 iService, a. s. informs the Investor about the repayment process of the loan instalments and repayment of the entire loan, interest and accessories through the Virtual Account.

8.4 Clearing the loan repayment will be made at the date of the proper installment according to the final payment schedule. In the event of early repayment of the loan at a date other than the date of the regular installment of the loan, investor is entitled to the respective interest for a period ending at the date of the following regular loan installment.

9. Enforced Collection of the Loan Repayment

9.1 In the case the Debtor is in delay with due and timely repayment of the loan instalments under the Loan Agreement, the Investor is not entitled to request that iService, a. s. perform the Debtor’s obligation under the Loan Agreement.

9.2 In the case the Debtor is in delay with due and timely repayment of loan instalments under the Loan Agreement, iService, a. s. will ensure for the Investor enforcement of the loan instalments from the individual Debtors in line with the provisions of the Framework Agreement on Cooperation and the granted power of attorney in their name and on their behalf. Enforcement of the loan instalments from the individual Debtors in line with the preceding sentence will be performed in the form of the so-called “soft-collection” (subpar. 9.3 of GTC) or in the form of “hard-collection” (subpar. 9.4 of GTC).

9.3 In the case the Debtor is in delay with payment of any loan instalment by more than two days, iService, a. s. will, in the name and on behalf of the Investor, commence enforced collection of the outstanding amount. Enforcement of the outstanding amount from the Debtor will be performed in one of the following notification forms: phone, SMS, e-mail, written notice. If the Agreement on Wage Deductions (subpar. 6.12 of GTC) was entered into, iService, a. s. will be entitled to enforce, in the name and on behalf of the Investor, the outstanding amount from the Debtor even under such Agreement. Selection of a particular form of enforced collection of the outstanding amount from the Debtor under these GTC, their sequence, content, repetition, if any, is determined by iService, a. s. based on their own internal documents. For each form of enforced collection of the outstanding amount under this paragraph of GTC the Debtor is obliged to pay the fee in the amount specified in the Price List (subpar. 11. of GTC).

9.4 If all notification forms used by iService, a. s. under the preceding paragraph of these GTC fail, iService, a. s. is entitled to inform the Investor of the identity and other identification data of the Debtor, while iService, a. s. will subsequently at their own discretion:

9.4.1 Entrust the receivable of this Investor resulting from the Loan Agreement into the mandate administration of a third entity selected by iService, a. s. (subpar. 9.5 of GTC), or

9.4.2 In the name and on behalf of the Investor enter into the Agreement on Assignment of Receivable, under which they will assign the receivable of this Investor from the Debtor, resulting from the Loan Agreement, to ZOPI (subpar. 9.6 of GTC).

9.5 In the case iService, a. s. entrusts the receivable into mandate administration to a third entity for the purpose of enforced collection of the Investor’s receivable under the Loan Agreement through the general or arbitration courts as well as in the subsequent enforced collection through the foreclosure proceedings, the costs of enforced collection of the Debtor’s payable in the actual amount as per this paragraph of GTC will be borne by the Investor in full. By signing the Framework Agreement on Cooperation and these GTC the Debtor expressly accepts and agrees that in the case of notifications of iService, a. s. under the preceding paragraphs of these GTC fail, iService, a. s. is entitled to inform the Investor of the identity and other identification data of the Debtor necessary for the purpose of enforced collection of the receivable arising under the Loan Agreement.

9.6 In the case iService, a. s. assigns the receivable of the Investor from the Debtor arising under the Loan Agreement to ZOPI in the name and on behalf of the Investor under the Agreement on Assignment of Receivable, the costs of enforced collection of the Debtor’s payable in the actual amount in line with this paragraph of GTC will be borne by ZOPI in full. In such case the consideration for assignment of the receivable will be equal to the amount of the funds (proceeds) obtained by ZOPI from enforced collection of the Debtor’s payable regardless of the form of enforced collection (out-of-court proceedings, judicial proceedings, foreclosure proceedings, bankruptcy proceedings, restructuring proceedings etc.) after deducting all ZOPI’s costs of enforced collection. Payment of the consideration for assigning the receivable will be performed so that if ZOPI obtains any sum from the Debtor during the process of enforced collection of the receivable from the Debtor, ZOPI will be obliged, within 30 days from obtaining the funds, to prepare for and send to the Investor the billing of the obtained funds, and after deducting the costs incurred by ZOPI with regard to enforced collection of the receivable by that time, to pay consideration to the Investor within 15 days from the date the invoice is delivered to the Investor. The Investor is entitled to request in writing that ZOPI terminate the Agreement on Assignment of Receivable. ZOPI must admit this request only if the Investor redeems all costs incurred by ZOPI for enforcing the receivable from the Debtor.

9.7 iService, a.s. and/or ZOPI inform the Investors on the status of the enforced collection of their receivable from the Debtor from time to time.

9.8 In the case the Debtor is in delay with payment of any loan instalment under the Loan Agreement by more than 15 days, the Investor, in whose name and on whose behalf iService, a. s. acts, is entitled to declare premature repayment of the loan and request that the Debtor pay the entire provided loan, including the agreed interest, insurance premium, penalty and other fees under the Price List. In the case the right to declare premature repayment is exercised, the Debtor is also obliged to pay the Investor the contractual penalty amounting to the difference between the (i) amount of the contractually agreed interest calculated for the entire duration of the originally agreed term of the Loan Agreement, and (ii) the amount of the contractually agreed interest payable as of the date of premature repayment of the loan. The right to declare premature repayment of the loan under the preceding sentence may be exercised by the Investor, in whose name and on whose behalf iService, a. s. acts, by the due date of the next loan instalment. Exercise of the right to declare premature repayment and the date of premature repayment of the loan will be notified by the Investor, in whose name and on whose behalf iService, a. s. acts, to the Debtor by a letter sent to the address of the permanent residence of the Debtor specified in the Loan Agreement. If the notice of premature repayment of the loan according to the preceding sentence cannot be delivered to Debtor to the address of their permanent residence specified in the Loan Agreement, the mail is considered to be delivered upon lapse of three (3) days from the date the mail is returned as undelivered, even if the Debtor does not learn of the fact. Provisions of paragraphs 9.1 to 9.6 of these GTC will apply accordingly.

9.9 If for the purpose of securing the Debtor’s payable under the Loan Agreement the Debtor issued the Bill of Exchange for the benefit of iService, a. s. and entered into the Agreement on Use of Bill of Exchange with iService, a. s. (subpar. 6.12 GTC), iService, a. s. is entitled, in the case the Debtor is in delay with repayment of any part of the loan by more than 15 days, to enforce the outstanding sum from the Debtor also through the issued Bill of Exchange so that the missing data about the Bill of Exchange will be completed under the Agreement on Use of Bill of Exchange and based on the completed Bill of Exchange they will request that the Debtor pay the outstanding sum (Bill of Exchange amount). This will not affect the provisions of paragraphs 9.1 to 9.8 of these GTC. If based on asserting the Bill of Exchange iService, a. s. recovers any funds from the Debtor, iService, a. s. is obliged to use these funds, after deducting all their costs of claiming and fees under the Price List, for settlement of the Debtor’s payables to the Investor under the Loan Agreement. Provisions of subpar. 8.2 of these GTC will apply accordingly. In the case of the procedure under subpar. 9.4.2 of these GTC, iService, a. s. will transfer the Bill of Exchange to ZOPI by enforcement. The rights and obligations of iService, a. s., Investor and Debtor relating to enforced collection of the Debtor’s payable through the Bill of Exchange, are in more detail regulated in the Framework Agreement on Cooperation and Agreement on Use of Bill of Exchange.

10. Termination of Registration of Virtual Debtor and Investor Account

10.1 iSale, v. o. s. a and iService, a. s. are entitled to terminate the registration and the Virtual Account of the Debtor and/or Investor only if:

10.1.1 These GTC determine so, or

10.1.2 The Framework Agreement on Cooperation with the Debtor is terminated, and/or the Framework Agreement on Cooperation with the Investor is terminated.

10.2 iSale, v. o. s. is entitled to rescind the Framework Agreement on Cooperation with the Debtor in the following cases:

10.2.1 If the Framework Agreement on Cooperation determines so,

10.2.2 If the Debtor violates the Framework Agreement on Cooperation in substantial way; substantial violation of the Framework Agreement on Cooperation is always considered to bemainly the delay of the Debtor with performance of the contractual obligations or any of them by more than 15 days and violation of the obligation to pay iSale, v. o. s. or iService, a. s. the fee under the Price List duly and timely,

10.2.3 Debtor’s delay with payment of the payables arising from the Loan Agreement by more than 15 days,

10.2.4 If the Investor, in whose name and on whose behalf iService, a. s. acts, rescinds the Loan Agreement with the Debtor.

10.3 iService, a. s. is entitled to rescind the Framework Agreement on Cooperation with the Investor in the following cases:

10.3.1 If the Framework Agreement on Cooperation determines so,

10.3.2 If the Investor violates the Framework Agreement on Cooperation in a substantial way; substantial violation of the Framework Agreement on Cooperation is always considered to be mainly the delay of the Investor with performance of the contractual obligations or any of them by more than 15 days and violation of the obligation to pay iService, a. s. or iSale, v. o. s. the fee under the Price List duly and timely.

10.4 Rescission of iSale, v. o. s. or iService, a. s. from the Framework Agreement on Cooperation entered into with the Debtor and/or Investor under subpar. 10.2 and 10.3 of these GTC must be in writing and delivered to the other party. Rescission of iSale, v. o. s. or iService, a. s. from the Framework Agreement on Cooperation commences when the demonstration of the will of the entitled party to rescind this Agreement is delivered to the other party. If the notice of rescinding the Framework Agreement on Cooperation cannot be delivered to Debtor to the address of their permanent residence specified in the Framework Agreement on Cooperation, the mail that includes the notice of rescinding the Framework Agreement on Cooperation, is considered to be delivered upon lapse of three (3) days from the date the mail is returned as undelivered, even if the Debtor does not learn of the fact. Termination of the Framework Agreement on Cooperation does not release any of the Parties from the obligation to fulfil and settle all obligations, resulting therefrom as at the date of termination.

10.5 The Debtor is not entitled to terminate or rescind the Framework Agreement with iSale, v. o. s. during the entire term of validity and effectiveness; this does not apply in the cases when this right arises from the applicable mandatory provisions of the generally binding legal regulations.

10.6 The Investor is not entitled to terminate or rescind the Framework Agreement with iService, a. s. during the entire term of validity and effectiveness; this does not apply in the cases when this right arises from the applicable mandatory provisions of the generally binding legal regulations.

11. Price List

11.1 These GTC include an integral part, namely the Price List setting the amount and type of the fees which the Internet Portal User, and/or Debtor and Investor are obliged to pay to iSale, v. o. s. or iService, a. s.

11.1.1 for individual services, activities and acts in using the Internet Portal,

11.1.2 in the case the Debtor and/or Investor violate the obligations resulting from the concluded Framework Agreement on Cooperation, these GTC and/or the Loan Agreement.

11.2 Failure to pay the fees under the Price List in the set amount constitutes substantial violation of the Framework Agreement on Cooperation and the reason for denying a particular service, activity or act by iSale, v. o. s. or iService, a. s., and/or cancellation of registration and Virtual Account of the particular User.

11.3 The Debtor and Investor expressly agree and accept that certain fees under the Price List must be paid by them using the manual transfer from the Bank Account of iSale, v. o. s. or Bank Account of iService, a. s. and undertake to pay the fees duly and timely. They also expressly agree and accept that certain fees under the Price List will be collected by iSale, v. o. s. and iService, a. s. automatically by debiting the relevant amount from the Clearing Account of the Debtor and/or Investor; by signing the Framework Agreement on Cooperation and by signing these GTC the Debtor and Investor grant iSale, v. o. s. and iService, a. s. the consent to such automatic collection of the relevant fees.

11.4 The Investor acknowledges that the fees specified in the Price List (subpar. 11.1 of GTC) do not include the fees and other costs of “hard-collection” enforcement (subpar. 9.4.1 and 9.5 of GTC), the actual amount of which are fully borne by the Investor. iService, a. s. will inform the Investor of the amount of costs on a separate basis and they will be charged to the Investor on a separate basis, to which the Investor grants consent by signing the Framework Agreement on Cooperation.

11.5 iService, a.s. or iSale, v.o.s. is entitled to decide in the individual cases that the fees in the Price List will not apply or will apply in the reduced amount.

12. Compensation of Damage

12.1 Each Party will be responsible for damage caused to the other Party by violating their obligations arising under the Framework Agreement on Cooperation and these GTC. The Parties undertake to use their best efforts to prevent the damage and to minimise the incurred damages.

12.2 None of the parties is responsible for the delay caused by delay in performance of the obligation by the other Party. None of the parties is responsible for damage caused by delay by the other Party in performance of their own obligation.

12.3 In the case of violation by the Debtor and/or Investor of the obligations resulting from the Framework Agreement on Cooperation, these GTC and/or Loan Agreement, the Debtor and/or Investor is obliged to pay the fee for each such violation. The obligations, violation of which constitutes the Debtor’s and/or Investor’s obligation to pay the relevant fee, type of the fees as well as the amount are specified in the Price List, which forms and integral part of these GTC (subpar. 11. of GTC). The Debtor is obliged to pay the fees upon call of iSale, v. o. s. and/or iService, a. s., in the amount, within the time limit and on the account specified in the call, unless agreed otherwise; this does not apply if under the Price List it concerns the fee, which iSale, v. o. s. and/or iService, a. s. is entitled to collect automatically from the Clearing Account of the Debtor and/or Investor.

13. General, Common and Final Provisions

13.1 During the process of registration, verification, duration of the Internet auction of loans, Internet auction of receivables as well as during the term of the Framework Agreement on Cooperation, the Debtor and/or Investor must at all times provide iSale, v. o. s. and/or iService, a. s. only the true, accurate, current and correct information and documents. Otherwise it concerns the substantial violation of the Framework Agreement on Cooperation by the Debtor and/or Investor.

13.2 The Debtor and Investor acknowledge that certain actions, activities or services must be confirmed by the validation code when using the Internet Portal. The list of the validation codes and specification of actions, activities and services, performance of which is subject to entering the validation code, will be generated by the Internet Portal for the User.

13.3 The parties have expressly agreed that their mutual legal relationships are governed by the provisions of Slovak law. The jurisdiction shall have the arbitrator assigned according to subpar. 13.5 or general courts of Slovak Republic. The Parties also acknowledge that these GTC and Price List are binding for the mutual relationships under the concluded Framework Agreement on Cooperation, unless the Agreement provides otherwise.

13.4 iSale, v. o. s. and iService, a. s. are entitled to change and/or amend these GTC including the Price List unilaterally, even without the consent of the Debtor or Investor, to which the Debtor and Investor grant express consent by signing the Framework Agreement on Cooperation and these GTC. iSale, v.o.s. and iService, a.s. shall notice the change of the GTS and/or the Price List in the appropriate way.

13.5 The Parties have agreed that all disputes arising from the legal relationships under the Loan Agreement or relating to this agreement, including all ancillary legal relationships, claims related to securing bill of exchange, claims for unjust enrichment, claims for damages, disputes concerning validity, interpretation, termination of this Agreement or the arbitration clause will be decided in the arbitration proceeding by the Mgr. Andrej Gundel, advocate registered by the Slovak Bar Association and recorded in the list of advocates, registratinon number 7042, and in case that he will note become the arbitrator for any legal reason, then by JUDr. Bc. Martin Kulhánek, Ph.D., advocate registered by the Slovak Bar Association and recorded in the list of advocates, registration number 7045 and in case that he will note become the arbitrator for any legal reason, then by JUDr. Marcel Máčai, advocate registered by the Slovak Bar Association and recorded in the list of advocates, registration number 6536. The remuneration for the arbitration proceeding shall be payable by the filing the motion and is in amount of 40,- EUR (plus applicable VAT). Arbitration proceeding can be hold exclusively in writing and the arbitration award does not have to contain reasoning, however the arbitrator may, in case of need, order the proceeding by word of mouth.

13.6 These GTC become valid and effective on 30.5.2016