By this Agreement, you ("the Customer") agree with Easyterms Ltd. ("the Lender") to conduct business electronically and to execute the Lender's On-Boarding Documents electronically for the purpose of establishing credit facilities. In pursuance of this Agreement, the Customer agrees to execute the aforesaid documents in accordance with the Terms and Conditions hereinafter set out.
1.1 The Lender may send, and the Customer agrees to accept, the Lender's documents via its secured online portal, email, facsimile transmission, or otherwise. The Customer agrees to and accepts the form of the Lender's document(s) as original document(s).
2.1 The Customer agrees, and the Lender accepts that the electronic execution of the documents will be considered to be duly authorized and binding upon the Customer. The Lender will be authorized to rely and act upon any such document(s), even if they were not sent by the Customer or its duly authorized representative.
2.2 The Lender will be entitled to rely on any signature appearing on the electronic document which is submitted and purports to be a signature of the Customer or a representative of the Customer as being authorized, valid, and binding on the Customer, even if the signature was not, in fact, signed by the customer or its representative.
3.1 The Customer will comply with any security procedures prescribed by the Lender for the purpose of completing and signing the application and will take any other steps reasonably necessary to prevent the unauthorized execution and transmission of the said document(s). The Customer will access his/her/its records via the Lender's online portal using a unique identification number. The Customer will keep its unique identification confidential and will not disclose it to a third party.
4.1 The Lender will keep copies of all documents electronically submitted and shall provide the same to the Customer upon a twenty-four (24) hour written request.
4.2 The Lender and Customer agree that a copy of a document, or documents, submitted via its portal or by email or fax shall be admissible as evidence of the contents and its execution by the parties in the same manner as an original document, and expressly waive any right to object to its introduction in evidence, including any right to object based on the best evidence rule.
4.3 The Customer can, in person, collect from the Lender's office, or by post if the Lender is directed to do so, a paper copy of the electronic document(s) or a record of such electronic activity at a cost of Twenty-Five (B$25.00) Dollars together with Value Added Tax (VAT).
5.1 The Lender will not be responsible for any loss or damage suffered or incurred by the Customer with respect to this Agreement or resulting from the Lender's giving effect to the submission of the document(s) electronically, except in a case where there has been negligence on the part of the Lender and in any such case, the Lender will not, under any circumstances, be liable for any loss of data or any indirect, consequential or exemplary damages, regardless of the cause of action, even if the Lender was notified of the possibility of these damages.
5.2 In no event will the Lender be liable for any loss or damages suffered by the Customer that are caused by:
The actions of, or any failure to act by, any third party (and no third party will be considered to be acting as an agent of the Lender)
Inaccuracies in or inadequacies of any information furnished by the Customer to the Lender
Failure by the Lender to perform or fulfill any of its obligations to the Customer due to any cause beyond the Lender's control
Any delay in receiving or failure to receive the electronic documents via its portal, by an e-mail or fax.
6.1 Except with respect to claims, costs, and liabilities arising principally by reason of the Lender's negligence, the Customer will indemnify the Lender against any claim, cost or liability incurred by the Customer resulting from the Lender giving effect or refusing to give effect to any document submitted via its portal, e-mail or facsimile, including without limitation, legal and other professional fees and disbursements reasonably incurred by the Customer.
7.1 The invalidity or unenforceability of any provision of this Agreement shall not affect the validity of enforceability of any other provision of this Agreement, and such an invalid provision shall be deemed to be severable.
8.1 This Agreement may be terminated at any time by either party upon giving two (2) days' written notice to the other without penalty.
9.1 This Agreement will constitute the continuing consent and agreement of the Customer and will bind the Customer and his/her/its heirs, executors, liquidators, successors, administrators, and other legal representatives. This Agreement cannot be assigned by the Customer.
10.1 This Agreement will be exclusively governed by the Laws of the Commonwealth of The Bahamas.