LIRIDI TERMS AND CONDITIONS

LIRIDI Lanka LTD (hereinafter shall be referred to as "LIRIDI" or "Us" or " We") is the owner of the mobile application by the name LIRIDI (hereinafter shall be referred to as " App") and further we clarify that " User" means any person using the App i.e. consumers, micro finance organizations (each – " MFO" and collectively " MFOs"), borrowers and other partners.

By accessing or using our App on any compatible device (" Device"), User thereby signifies that such User has read, understood and agreed to be bound by these Terms & Conditions and any other law applicable, whether or not a registered member of the App. If User does not agree to all the provisions of these Terms & Conditions, then User may not access the App or use any services provided by Us.

These Terms & Conditions read together with our Privacy Policy govern the usage of the App. If User does not agree with any part of these Terms & Conditions and/or Privacy Policy then User may not access the App or use any services provided by Us.

These Terms & Conditions may be amended or varied by LIRIDI from time to time and the continued use of the services constitutes User agreement to be bound by the terms of any such amendment or variation.

GENERAL FEATURES AND FACILITIES PROVIDED BY LIRIDI

Through the App, LIRIDI provides a mobile online platform which connects the MFOs with prospective borrowers. LIRIDI merely facilitates a transaction between the Users and MFOs. LIRIDI is not an organization registered with the Central Bank of Sri Lanka and does not hold any license to engage in any activities relating to lending or borrowing. LIRIDI is also not a deposit taking company or a company offering any investment schemes as per the rules and regulations for the time being in force in Sri Lanka. LIRIDI does not hold any right to accept or reject the loan application submitted through the App. Based on the specific credit underwriting policy of the relevant MFO, the customer loan application is either accepted or rejected, this acceptance or rejection is conveyed through the App.

The App provides the following functionality to the User of the App:

ELIGIBILITY

The User represents and warrants that the User is a natural person who has attained the age of at least 18 years and is legally allowed to enter into a contract in Sri Lanka and is a tax resident of Sri Lanka. User shall not access and use the App if such User is not competent to contract under the applicable laws, rules and regulations. The User is allowed to utilize the services in accordance with Terms & Conditions detailed hereinafter.

By registering on the LIRIDI mobile online platform, the User hereby undertakes to agree and abide by the Terms & Conditions detailed herein. If the User violates any of these Terms & Conditions, or otherwise violates an agreement entered into through the medium of the App, LIRIDI may terminate the User's membership, delete his/her profile and any content or information posted online by the User in the App and/or prohibit the User from using or accessing the App at any time in its sole discretion, with or without notice.

User hereby acknowledges that loans are a financially responsible act and the User is urged to use all available resources to educate himself/herself about MFO loans in general.

LIRIDI and MFO's will not be liable in any way for any indirect, special, punitive, consequential, or indirect damages (including without limitation lost profits, cost of procuring substitute service or lost opportunity) arising out of or in connection with your decision to invest Users' savings, whether or not they are made aware of the possibility of such damages.

USER APP ACCOUNT

If the User wishes to utilize the App functionality, then User shall maintain an account in the App and for the first time, the User is required to login through an existing Facebook account or create a new Facebook account. The User to be able to use the App shall furnish certain information such as User name, Email ID, mobile phone contact number (" Contact number") and any other information deemed necessary by LIRIDI and as further detailed in the Privacy Policy. User is responsible for maintaining the confidentiality and security of his/her User account, activities that occur in or through User account. User agrees to accept responsibility for all activities that occurs under his/her User account. Please ensure that the details provided to Us are true, correct, accurate and complete. If LIRIDI has any reasonable suspicion that the information provided by User is wrong, inaccurate or incorrect, LIRIDI shall have right to immediately terminate User account without any notice to User in this regard. In the event of any changes to the information shared by the User at the time of registering on the Platform, User shall be responsible for forthwith notifying the said changes to LIRIDI.

INTELLECTUAL PROPERTY RIGHTS

Unless otherwise indicated by Us, all of the content on the App, images, illustrations, graphics, audio clips, video clips or text, reports generated, trademarks, trade names ("App Content"), constitute our (or, if applicable our licensors') intellectual property. Copyright laws in all applicable jurisdictions protect the App and the App Content.

We hereby grant You a limited, nonexclusive and non-sublicensable license to access and use the App Content for Your personal or internal use. Such license is subject to these Terms & Conditions and does not permit without Our prior written permission (a) any resale of the App Content; (b) the distribution, public performance or public display of any App Content; (c) modifying or otherwise making any derivative uses of the App Content, or any portion thereof; or (d) any use of the App Content other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Services.

User acknowledges that he has no right to have access to the App in source-code form.

LIRIDI (and its licensors, if any) is / are the sole owner(s) of the underlying software and source code associated with the App and all the trademarks, copyright and any other intellectual property rights of any nature in the App.

User acknowledges that all intellectual property rights in the App anywhere in the world belong to LIRIDI or its licensors, if any, that rights in the App are licensed (not sold) to User, and that User has no rights in, or to, the App other than the limited right to avail the facilities provided in accordance with the LIRIDI Terms & Conditions.

USER ACCOUNT* INFORMATION*

Maintenance of confidentiality of the account created in LIRIDI is the User's responsibility. Any deletion of the LIRIDI App does not constitute deletion or termination of the User's account. The option of deleting the User information is available only for the Users who have not received any loan from any MFO through the use of App. If such User wishes to delete the information from his/her User's account the User can send an e-mail to support@liridi.lk to delete the information. However, the User who has received a loan from an MFO or whose loan is approved by any MFO through the use of the App, then the User account information cannot be deleted.

COMMUNICATION WITH USER

The use of the App of any version on any Device signifies that User has read, understood and agreed to be bound by these Terms & Conditions. This implies that User has expressed consent to be contacted by LIRIDI, its agents, representatives, affiliates, or anyone calling on our behalf at the User's Contact number or email address provided by User while registering the User account. The User further agrees to LIRIDI contacting User in any manner, including without limitation, SMS messages (including text messages), WhatsApp, Viber, calls using pre-recorded messages or artificial voice, calls and messages delivered using auto telephone dialing system or an automatic texting system, and notifications sent via the App. Automated messages may be played when the telephone is answered, whether by User or someone else. In the event that an agent or representative calls, he or she may also leave a message on your answering machine, voice mail, or send one via SMS.

User hereby certifies, warrants and represents that the telephone numbers and/or email addresses and any other information that User has provided to Us are his/her own and not someone else's and are true, accurate, current and complete. User represents that he/she is permitted to receive calls at each of the telephone numbers User has provided to Us and emails at each of the email addresses User has provided to Us. User hereby agrees to notify Us whenever User stops using a particular telephone number(s) and/or email address(es).

GUIDELINES

User hereby agrees not to use the App for any purpose that is unlawful under any applicable laws and/or in violation of the terms of these Terms & Conditions and our Privacy Policy. User shall not use the App in any manner that could damage, disable, overburden, or impair our servers, or any networks connected to any LIRIDI server, or interfere with any other party's use of the App. User shall not attempt to gain unauthorized access to any functions and features, other user accounts, computer systems or networks connected to any User server, in any manner, including, through hacking, password mining or any other means. User shall not obtain or attempt to obtain any materials or information through any means which is not intentionally made available through the App.

The App is made available to User for his/her personal or business use alone. User shall not allow third parties to:

  1. make and/or distribute copies of the App or any deliverable generated by the App;
  2. attempt to copy, reproduce, alter, modify and/or reverse engineer the App; and/or
  3. create derivative works of the App.

User accepts that any and all operations emanating from his/her Device shall be assumed to have been initiated by User.

User shall not copy, reproduce, distribute, or create derivative works of our content that is available on the App. Also, User shall not reverse engineer or reverse compile our technology that is available on the App, as may be associated with the App from time to time.

User shall request LIRIDI to block his/her account immediately if Users' Device has been lost or stolen.

User is responsible for any and all activities that occur in User account. User agrees to notify LIRIDI immediately of any unauthorized use of the account or any other breach of security. LIRIDI shall not be liable for any loss to you owing to negligent actions or a failure on your part to inform LIRIDI, within a reasonable time, about loss or theft of your Device and/or any unauthorized access in your Account, either with or without your knowledge.

LIRIDI shall make all reasonable efforts to ensure that User's information is kept confidential. However, LIRIDI shall not be responsible for any disclosure or leakage of confidential information and/or loss or damage of the Device due to theft, negligence or failure on User part to practice safe computing.

User shall ensure that while using the App functions and features, all prevailing and applicable laws, rules and regulations, shall at all times, be strictly complied with by User and LIRIDI shall not be liable in any manner whatsoever for default of any nature, by User, regarding the same.

User understands and acknowledges that upon using the App, User authorizes Us to access third party sites designated by User, on his/her behalf, to retrieve such information requested by User, and to register for accounts requested by User. For all purposes hereof, User hereby grants us limited powers and hereby authorize us with the full power of substitution and re-substitution, for User and in User name, place and stead, in any and all capacities, to access third party internet sites, servers or documents, retrieve information, and use User information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with services and facilities available on the App, as fully to all intents and purposes as you might or could do in person. User hereby acknowledges and agrees that when we access or retrieve information from any third party sites, we are acting as User agent, and not the agent or on behalf of the third party. User agrees that such third parties shall be entitled to rely on the foregoing authorization, agency granted by User.

CREDIT INFORMATION

We can only access User credit Information as User authorized representative and shall use credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by User from us on the App. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the User credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the credit Information both online and offline and use best in class security measures in line with applicable laws. The credit Information shared by User, or received on the User's behalf shall be destroyed or erased if the User requests us expressly to do so and/or seeks to revoke the consent for processing of the credit information or if it is mandated or intimated by regulators.

INDEMNITY

In consideration of LIRIDI complying with your instructions or requests in relation with User account, User hereby undertakes to indemnify LIRIDI, its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors, and MFOs who are Our lending partners harmless against any claims, demands, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to User use or misuse of the App, any violation of these Terms & Conditions by User, or any breach of the representations, warranties, and covenants made by User herein or User infringement of any intellectual property or other right of any person or entity, or as a result of any threatening, libelous, obscene, harassing or offensive material posted/ transmitted by User in the App.

LIRIDI reserves the right, at User expense, to assume the exclusive defense and control of any matter for which User are required to indemnify LIRIDI, including rights to settle, and User hereby agrees to cooperate with LIRIDI defense and settlement of these claims. LIRIDI will use reasonable efforts to notify User of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.

The terms of this paragraph will survive any termination or cancellation of these Terms & Conditions or your use of the App.

WARRANTIES

LIRIDI App and the functions and features therein are provided on an "as is" and on an "as available" basis. We expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

LIRIDI shall make reasonable efforts to make available the App and the functions and features at all times. However, we make no warranty that the App shall meet User personal requirements, be uninterrupted, timely, secure, and/or error free. Further we do not make any warranty as to the results that may be obtained from the use of the functions and features or as to the accuracy, reliability and/or quality of the output derived therefrom.

LIRIDI shall not be liable for the loss and/or damage of the confidential information or data of the User arising as a result of an event or a series of related events, that is beyond the control of LIRIDI, including failures of or problems with the internet or part of the internet, attempted hacker attacks, hacker attacks, denial of service attacks and/or viruses or other malicious software attacks or infections.

Any material downloaded or otherwise obtained through the App is done at your own discretion and risk and you are solely responsible for any damage to your Device or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from Us through or from the service will create any warranty not expressly stated in these Terms & Conditions.

ACKNOWLEDGEMENTS

User hereby acknowledges that LIRIDI is an online platform which connects the MFOs with prospective borrowers and that the LIRIDI is not engaged in either grant of loan or borrowing any money using the LIRIDI App. User hereby acknowledges that the use of the financial lending activity is entirely between the Users and respective MFO and neither LIRIDI nor its employees, officers, directors, agents have any interest with regard to any financial lending activity performed by the MFOs. User acknowledges that LIRIDI in no manner guarantees that the Users have provided all the information in LIRIDI App which is true and correct including but not limited his/her Email, phone numbers etc. User acknowledges that it is the User's responsibility to verify the information about the person in LIRIDI App and LIRIDI is in no manner liable if the information provided in this App is untrue or incorrect. User acknowledges that LIRIDI is in no manner responsible for any claim of money or damages in the event any MFO fails to either grant loan or the User fails to repay the loan to an MFO or misrepresents the User's financial status to an MFO or commits a fraud or cheating or any other such illegal act in relation to an MFO.

TERMINATION OF SERVICE

LIRIDI may, in our sole and absolute discretion without liability to the User or any third party, terminate User usage of the App for any reason, including without limitation inactivity or violation of these Terms & Conditions or other policies we may establish from time to time. Upon termination of User usage of the App, User remains liable for all outstanding loans and any other obligations User have incurred. Upon termination, we have the right to prohibit User access to the App, including without limitation by deactivating User username and password, and to refuse future access to the App by User.

LIMITATION OF LIABILITY

IN NO EVENT LIRIDI SHALL WE BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES OR FOR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, DATA OR PROFITS, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE ACCESS, USE OR PERFORMANCE OF LIRIDI APP'S FUNCTIONS AND FEATURES OR FOR INTERRUPTIONS, DELAY, ETC., EVEN IF WE WERE ADVISED OF THE POSSIBILITY OF DAMAGES RESULTING FROM THE COST OF GETTING SUBSTITUTE FACILITIES ON THE APP, ANY PRODUCTS, DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE APP, UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA STATEMENTS OR CONDUCT OF ANYONE ON THE APP, OR INABILITY TO USE THE APP, THE PROVISION OF OR FAILURE TO PROVIDE THE FUNCTIONS AND FEATURES, HETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE. THIS CLAUSE SHALL SURVIVE IN PERPETUITY.

FORCE MAJEURE

LIRIDI shall not be liable in the event of any disruption of the services resulting from Force Majeure and LIRIDI may suspend the service or part thereof in such an event. Force Majeure for purposes of this Terms & Conditions means any situation or event that makes it impossible for LIRIDI to perform its obligations and includes but is not limited to any act of God such as lighting, floods, earthquakes, prohibitive decisions made by the government or local authority or civil war conflict and industrial strikes as well as any global or partial dysfunction of the service caused by disruption or suspension of the telecommunication facilities.

SEVERABILITY

If any provision of these Terms & Conditions is held to be illegal, invalid or unenforceable under any present or future applicable laws:

  1. such provision will be replaced with another, which is not prohibited or unenforceable and has, as far as possible, the same legal and commercial effect as that which it replaces; and
  2. the remaining provisions of the T&C will remain in full force and effect and will not be affected by the illegal, invalid, or unenforceable provision or by its severance here from.

GOVERNING LAW AND JURISDICTION

These Terms & Condition along with the Privacy Policy are governed and construed in accordance with the law of Sri Lanka. By using the App, you hereby irrevocably consent to the exclusive jurisdiction and venue of courts in Sri Lanka, which shall determine every claim or dispute arising out of or in connection with these Terms & Condition, in the event of any disputes arising out of or in relation to your access to and use of the App.

GRIEVANCE

User can raise any his/her claim through e-mail at support@liridi.lk