INSTALLMENT FINANCING AGREEMENT

(Installment Agreement)

The Lender and the Borrower agree to adopt and comply with this Agreement jointly. Based on the principles of fairness, mutual consent, honesty, and trust, both parties agree to enter into this installment loan agreement and ensure that each party fulfils and performs their respective responsibilities.

MAKLUMAT PEMINJAM

Nama peminjam: —

Nombor permohonan: —

Jumlah pembiayaan: —

Tempoh pembayaran: —

Kadar faedah atau keuntungan: Belum ditetapkan

Jadual pembayaran: Belum tersedia

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ARTICLE 1 — TYPE OF LOAN

The loan is applied for using the Borrower's identity card as an identity verification document, without collateral.

ARTICLE 2 — INTEREST RATES AND CHARGES

The total interest, penalties, service charges, or any other fees shall not exceed 25% per annum.

ARTICLE 3 — BORROWER'S RESPONSIBILITIES

Throughout the loan period, the Borrower shall:

1. Pay interest according to the prescribed schedule.
2. Repay the loan principal on time.
3. If a payment cannot be processed into the account due to a problem caused by the Borrower, the Borrower shall cooperate with the Lender to resolve the payment issue.
4. Comply with all the terms and conditions of this Agreement.

ARTICLE 4 — LOAN-RELATED TERMS AND RESPONSIBILITIES

(1) For unsecured online loans, the Lender assumes the risk associated with granting the loan. The Borrower shall provide loan security to enable an assessment of the minimum repayment capacity for the personal loan. The Borrower's financial capacity shall be verified.

(2) For unsecured online loans, the Lender bears a higher credit risk than for secured loans. Therefore, the Borrower is required to obtain insurance protection provided by the company as a measure to reduce risk and verify the Borrower's financial ability to repay the loan.

The insurance protection is charged at a rate of 11% of the approved loan amount. Once this requirement has been fulfilled and verification has been successfully completed, the Borrower may withdraw the full amount from their respective loan account.

(3) After this Agreement has been signed, the Borrower and the Lender shall comply with all stipulated conditions. If either party breaches this Agreement, the other party shall have the right to bring the matter before a court of law.

(4) If a credit transfer cannot be completed due to a problem caused by the Borrower, the Lender shall have the right to request the Borrower's cooperation in resolving the issue.

(5) The Borrower shall repay the loan principal together with interest within the period specified in this Agreement. If the Borrower wishes to apply for an extension of the loan period, the application must be submitted at least five (5) days before the Agreement expires.

(6) If the Borrower fails to make a payment on the stipulated due date, a penalty interest rate of 0.5% per day shall be calculated after a period of three (3) days.

ARTICLE 5 — CONSIDERATIONS BEFORE LOAN DISBURSEMENT

Before granting the loan, the Lender shall have the right to consider the following matters:

1. Whether the Borrower has completed the legal formalities relating to the loan in accordance with applicable laws.
2. Whether the Borrower has paid the costs associated with this Agreement.
3. Whether the Borrower has complied with the loan conditions specified in this Agreement.
4. Whether the Borrower's business circumstances or financial position have changed in a manner that affects the Borrower's ability to repay.
5. Whether the Borrower has breached any of the terms specified in this Agreement.

ARTICLE 6 — USE AND REPAYMENT OF THE LOAN

(1) The Borrower shall not use the loan proceeds for any unlawful activity. If this condition is breached, the Lender shall have the right to demand immediate repayment of the loan principal and interest.

(2) The Borrower shall repay the loan principal and interest within the period specified in this Agreement. For overdue amounts, the Lender shall have the right to demand repayment of the outstanding loan and impose a charge of 5% of the total amount payable.

ARTICLE 7 — AMENDMENT OR TERMINATION OF THE AGREEMENT

Neither party shall be permitted to amend or terminate this Agreement unilaterally without proper authorisation. If either party wishes to take action under applicable legal provisions, that party shall provide written notice to the other party.

Following the amendment or termination of this Agreement, the Borrower shall make a payment equivalent to 30% of the loan principal and interest in accordance with the terms of this Agreement.

ARTICLE 8 — DISPUTE RESOLUTION

Both parties agree to resolve any disputes through negotiations in an effort to reach an agreement on the terms of this Agreement. If the negotiations fail to produce an agreement, the parties may seek mediation through a local arbitration committee or bring the matter before a court with competent jurisdiction.

ARTICLE 9 — CREDIT RISK AND INSURANCE

The Lender assumes the Borrower's credit risk. Due to the novel coronavirus pandemic, the head office requires the Borrower to obtain personal accident insurance.

If the Borrower is unable to repay the loan on time due to circumstances beyond the Borrower's control (force majeure), the Lender may seek assistance from the insurance company to make the payment.

Half an hour after the insurance has been purchased, if the Borrower has signed this Agreement but fails to comply with its terms and conditions, the company shall regard such conduct as serious fraud and bring the credit dispute before the people's court.

ARTICLE 10 — EFFECTIVE DATE AND COPIES OF THE AGREEMENT

This installment loan agreement shall come into effect on the date it is signed by both parties, including through electronic consent. The text of this Agreement shall have the same legal effect. The Lender and the Borrower shall each retain one copy of this Agreement.

ARTICLE 11 — AUTOMATIC MONTHLY REPAYMENTS (AUTO-DEBIT)

(1) The Borrower agrees that repayment of the loan principal and interest shall be made monthly through an automatic debit system (auto-debit).

(2) The automatic debit shall be carried out on the tenth (10th) day of each month from the bank account, electronic wallet, or payment channel designated by the Borrower and registered with the Lender.

(3) The Borrower shall ensure that sufficient funds are available in the designated account before the automatic debit date. A payment failure caused by insufficient funds shall be treated as a late payment and may be subject to penalties.

(4) If the tenth (10th) day falls on a public holiday or a non-banking day, the automatic debit shall be processed on the next working day.

(5) Any changes to the automatic debit account details shall be notified to the Lender in writing at least five (5) working days before the next scheduled automatic debit date.

(6) The Borrower acknowledges and agrees that failure to comply with the automatic debit arrangements constitutes a breach of this Agreement.