Starting from April 2022
- When You:
- register for the first time as a prospective Borrower;
- sign the Loan Agreement; and
- make a Transaction using GoPayLater,
- GoPayLater (or any designation thereof as PayLater) is a service in the Platform or Official Platform Partners which provides information technology-based loan facilities provided by the Lender(s) to the Borrower (“Loan Facility”) through Findaya as the P2P Lending Operator. It provides the following repayment options for the Loan Facility:
- by repayment of the Loan, including the Service Fees (if any) on the last day of the month in the respective month (“GoPayLater Akhir Bulan”); or
- by repayment of the Loan, including the Loan Interest (if any) through installments (“GoPayLater Cicil”) in accordance with the Payment Due Date in the Installment Period that
You have agreed.
(hereinafter, GoPayLater Akhir Bulan and GoPayLater Cicil are collectively referred to as “GoPayLater”)
- The Loan Facility funds channelled to You as the Borrower to make a Transaction using GoPayLater are entirely derived from and owned by the Lender(s) registered on Findaya. Findaya only facilitates the provision of loanfrom the Lender(s) by forwarding the Loan Facility funds to You as the Borrower. Therefore, any legal relationship arising with regard to the Loan Facility and the Bill shall be between You as the Borrower and the Lender(s) and all risks associated with the aforementioned legal relationship shall be the sole responsibility of You as the Borrower and the Lender(s).
- You acknowledge, understand and agree that Findaya (for the benefit of and on behalf of the Lender(s)) reserves the right to conduct examination, verification, evaluation, assessment and determine (approve or reject) the application to obtain Loan Facility and Loan disbursement request for each Transaction made by You. For the avoidance of doubt, Findaya (for the benefit of and on behalf of the Lender(s)) or the Lender(s) has the right to determine that the granting of Loan Facility and Loan disbursement to You only applies for GoPayLater Akhir Bulan service and that Findaya or the Lender(s) shall not be obliged to provide the GoPayLater Cicil service to You, or vice versa.
- You acknowledge and agree that the Lender(s) may transfer or assign any outstanding Loan and Bill to other parties, including but not limited to banks, non-bank financial institutions or other financial institutions subject to the provisions of the Applicable Law and therefore this agreement and acknowledgement shall be binding according to the Applicable Law, and any such transfer or assignment will be notified to the Borrower via the Platform or by other means or methods of communication and within such period as determined by Findaya from time to time.
- You understand that Your failure to pay or repay the Loan may result in (i) collection activities being carried out by Findaya, the Lender or any other party appointed by Findaya and/or the Lender against the Borrower; (ii) the Borrower being reported to the Financial Services Authority (“OJK”); and (iii) adjustments to the Borrower’s creditworthiness record or rating at Findaya and/or Lender.
- You agree to the use of the Electronic Signature provided/facilitated by Findaya or other parties in cooperation with Findaya.
- Findaya will and may report to related parties, including but not limited to the OJK, PPATK and/or related institutions in the event that any of the information, data and statement provided by You is false or is in violation of or contravention with the Law.
- In the event that You obtain a Loan from a Lender who is a foreign citizen or foreign legal entity (a legal entity not established pursuant to the Indonesian Law), You shall comply with and be subject to the applicable Law with respect to obligations related to offshore debts (including but not limited to any reporting obligations to Bank Indonesia, the Ministry of Finance, the Offshore Commercial Loan team and other authorized institutions).
PROVISIONS RELATED TO LOAN
- The Main Provision of the Loan
- Fee and Repayment
- The Borrower will be charged Service Fees, Installment Value along with Loan Interest and/or Late Penalty (as relevant) for each Loan received as further stipulated in the Loan Agreement.
- Activation of GoPayLater Service by the Borrower constitutes an approval to repay the Loan only through your GoPay account or other means as instructed by Findaya. By performing a GoPayLater Activation, the Borrower gives an instruction and grant irrevocable power of attorney to Findaya to instruct and grant power of attorney to PT Dompet Anak Bangsa (“DAB”) to automatically deduct from Your GoPay account as a form of payment for current and any future Bills (“GoPay Deduction”), subject to the provisions as further stipulated in the Loan Agreement. The power of attorney from the Borrower to Findaya as intended will continue to be valid and cannot expire for any reason, including for reasons as regulated in Articles 1813, 1814 and 1816 of the Civil Code until repayment of the Loan has been made.
- You understand and agree that the Lender(s) has given an instruction and granted power of attorney to Findaya to conduct the matters related to the Loan Facility as follows:
- To evaluate and determine (approve or reject) Loan Facility applications and Loan disbursement requests to the Borrower;
- To channel funds from the Loan disbursements to the Borrower based on the result of Findaya’s evaluation;
- To represent and act for and on behalf of the Lender(s) in dispute settlement in the event of any dispute, over the fulfilment of rights and obligations of the parties, including to file a lawsuit against You as the Borrower in relation to the exercise of rights or the fulfilment of rights and the protection of the Lender(s)’s interest.
PROVISIONS RELATED TO THE USE OF GOPAYLATER SERVICE
- Activation of GoPayLater Service by You
- GoPayLater Activation will be considered as Your application to obtain a Loan Facility with a maximum amount of the available Loan Limit.
- If necessary, Findaya, from time to time, may ask You to provide and/or upload additional documents and/or information, including personal information in electronic form to Findaya.
- The approval of Your Loan Facility application will be followed by a request for You to sign the Loan Agreement and Your Loan disbursement will be evidenced by the successful processing of Your Transaction payment.
- Use of GoPayLater Service
- The Loan Facility that You get can only be disbursed as a Loan by making a Transaction through the Platform or through other Official Platform Partners.
- Confirmation of Transaction orders on the Transaction confirmation page by You constitutes a Loan disbursement request and at the same time an instruction to Findaya to disburse a Loan equal to the Transaction Value to the Official Platform Partners and/or the Product Provider (as relevant) as payment for the Transaction (if Your Loan disbursement request is approved by Findaya).
- You cannot cancel the Loan disbursement request that has been approved for funding by the Lender(s).
- GoPayLater Transaction
- You still have remaining Loan Limit with a minimum amount of the Transaction Value;
- There is no outstanding amount of Bill from the previous Facility Availability Period; and
- No Event of Default has occurred.
- The amount of Loan that arises from a Transaction will be equivalent to the Transaction Value.
- You hereby acknowledge and agree that any legal relationship arising with regard to the product from Your Transaction is between You and the relevant Product Provider and Official Platform Partners. Therefore, the relevant Product Provider and the Official Platform Partners shall be responsible for the quality of the product and You will release Findaya and the Lender from any liability or obligation on the availability, accuracy, suitability, completeness or correctness of the services, content or products provided by the Product Provider.
- Any successful Transaction as confirmed in the Platform or Official Platform Partners You make using GoPayLater will deduct Your remaining Loan Limit and constitute a Loan. Any complaint or issue regarding goods and/or services, including any products, that You receive will not cancel the Loan. You may submit Your complaint over goods and/or services that You receive directly to the Product Provider.
- If, based on the confirmation from the Product Provider, Platform, or Official Platform Partners, Findaya is informed that a Loan was provided without any successful Transaction (“Invalid Loan”), then the following conditions will apply to the Invalid Loan:
- For any unpaid Invalid Loan, Findaya can reduce Your Bill and refund Your Loan Limit after Findaya receives the refund of disbursed Loan and Bill from the Product Provider with a maximum amount of the Invalid Loan.
- For any paid Invalid Loan, the Product Provider will refund the Loan You have received to You through Findaya or the Platform in the amount of the Invalid Loan with the method determined by Findaya or together with the Product Provider and the Platform or Official Platform Partners (as relevant), in accordance with the policies of Findaya and the Platform.
- The existence of any Invalid Loan will not reduce or cancel any other Loan, Service Fees (if any), Loan Interest (if any), and Late Penalty (if any) in a Facility Availability Period unless otherwise determined by Findaya or together with the Lender(s) by providing notification to You in accordance with the policies of Findaya and the Lender(s).The provisions in points (a) and (b) of Section 3.3.6 above are only applicable provided that You have notified Findaya regarding the Invalid Loan within 45 (forty-five) Business Days from the date of the Transaction which incurred such Invalid Loan in concurrence with the record in the Platform.
- You may be asked to submit additional documents or information, either electronically or in person to Our office, or to meet Our agents, as may be instructed by Us, if You wish to use the GoPayLater service or as required.
- We will verify the information and documents that You submit through the Platform and Official Platform Partners and determine whether You meet the requirements as a GoPayLater user.
- Findaya will verify, examine, review and assess any information, data and statements provided by You, including collaborating with third parties to verify and assess eligibility for Loan applications.
- We are fully authorized to approve and/or reject Your verification request with due observance of the provisions of the applicable laws and regulations. We may, at any time, withdraw approval of Your verification request and reset Your account status to unverified, including if there is doubt as to the accuracy and/or validity and completeness of the documents and/or information that You submitted.
- To avoid any misuse of Your account, We may terminate any service if the documents or information We request from You are inaccurate, invalid and/or incomplete.
- As part of Our efforts to maintain the security of Your account, You need to have a six-digit code as a Personal Identification Number (PIN) code as an authentication method for Your Account. By performing the GoPayLater Activation, You agree that Your Personal Identification Number (PIN) on the Gojek Application or Your GoPay account will be registered as the Personal Identification Number (PIN) for the authentication of Your GoPayLater Account (“PIN”).
- Your PIN code will be required for Loan disbursement for every Transaction You make using GoPayLater (either the first transaction or subsequent Transactions), for Loan payments/repayments and/or the use of certain features that We provide.
- You are required to maintain the confidentiality of Your PIN code. Any loss arising from Your failure to maintain the confidentiality of your PIN code shall be Your sole responsibility. Any delivery of a verified PIN from Your Account will be considered a legitimate transaction and/or activity.
- The resetting of PIN or other valid authentication methods will be subject to the terms and conditions of the Platform or the relevant Official Platform Partner. We and Our staff never ask for PIN or One-Time-Password (OTP). You agree to assume all risks associated with the disclosure of Your PIN or One-Time Password (OTP) to any third party and to be fully responsible for any consequences associated therewith.
- We may provide other authentication methods, including but not limited to fingerprint and/or facial recognition authorization, whichever Your device allows. You must follow the registration steps for identifiable factors, as relevant, such as fingerprint for fingerprint authentication and/or real-time facial image for facial recognition) as determined by Us, if You wish to activate the authentication method. This authentication method may require PIN prior to activation.
- Identifiable authentication factors can be stored and verified by Us or by third parties (such as the device You are using, according to your permission). Any claims relating to storage and/or verification of identifiable factors by third parties (such as the device You are using) shall not be Our responsibility. However, We will make reasonable efforts to minimize the risks that We can identify, which may arise from the activation and/or use of authentication factors.
- If You access Your Account through an Official Platform Partner, that Official Platform Partners may create its own authentication method. We are not responsible for the authentication method of such Official Platform Partner.
- If You change the PIN of your GoPay account, it will be considered as and is a change to the PIN for Your Account or Your GoPayLater transactions in accordance with the terms for changing your GoPay account PIN.
- Other Provisions
- Notwithstanding any other rights and obligations stipulated herein, the rights and obligations of Findaya as the P2P Lending Operator are as follows:
- Your Rights and Obligations
Notwithstanding any other rights and obligations stipulated herein, Your rights and obligations are as follows:
- You must notify Findaya and provide updates for any changes to Your information, data and statements provided to Findaya or uploaded to the Platform from time to time;
- You must not engage in any action that will and/or might cause losses to Findaya and/or the Lender(s), including reputation damage in any manner as well as abusive and/or fraudulent behaviours or behavioural patterns identified by Findaya’s system as a suspicious pattern of financial activity;
- You shall at all times consider the amount of Service Fees, Loan Interest and any costs that must be paid in accordance with Your ability to repay the Loan and consult with other parties, if necessary, before applying for and obtaining any Loan Facility;
- You shall cooperate and provide any information needed to the Financial Services Authority (Otoritas Jasa Keuangan / OJK), the government and other law enforcement agencies in the event that the information, data and statements provided by You are contrary to the Applicable Law; and
- You are prohibited from abusing the GoPayLater service for actions or activities related to money laundering or terrorism financing, money politics, violations of social norms, funding of groups prohibited under the provisions of the Applicable Law, funding for trafficking in illegal drugs (narcotics or psychotropics) and/or other activities that violate the provisions of the Applicable Law (hereinafter collectively referred to as the "Law Violation"). You hereby understand and acknowledge that (i) Findaya has the right to report to the relevant authorities in accordance with the Applicable Law if Findaya finds any indication of Law Violation by You or You are legally proven to have committed a Law Violation; and (ii) Findaya has the right to block Your Account and/or postpone the channeling or disbursement of Loans, as relevant.
- Your Representations and Warranties
You represent and warrant that:
- You are an Indonesian citizen and legally subject to the laws of the Republic of Indonesia, and are a legally capable individual, aged at least 21 (twenty-one) years old or are married and are not under any guardianship or receivership.
- If You do not meet the above criteria, then:
- You represent and warrant that the Account opening, registration and other activities that You do using GoPayLater have been approved by Your parent(s) or guardian; or
- Findaya has the right to terminate the GoPayLater service, cancel Your Loan Facility and/or take actions according to the terms of events of default in the Loan Agreement;
- You have obtained the necessary permits and/or approvals pursuant to the Applicable Law to obtain a Loan Facility;
- All facts, data, information, documents and statements provided by You to obtain the Loan Facility are true, accurate and complete;
- By uploading information to Your Account and/or Platform, You represent and warrant that You are the owner and holder of information, statement or data uploaded to the Platform and/or Account and have the right to upload such information or data to the Application and/or Account.
- Limitation of Liability of Findaya
- Findaya shall not be responsible for the completeness, accuracy, precision and correctness of any data, statement and information (including Information) provided or data uploaded by You and/or Lender, including but not limited to information on the use of the Loan.
- With due regard to the Applicable Law, Findaya shall not be liable for:
- Any indirect and immaterial loss, including costs, interest, damage or loss of any kind or nature (including personal injury, emotional distress and loss of data, property, income, profit, business, opportunity, use or other economic gains) suffered by You or a third party;
- Any loss, including expense, interest, damage or loss of any kind or nature (including personal injury, emotional distress, and loss of data, property, income, profit, business, opportunity, use or other economic gains) suffered by You or a third party due to errors, negligence or violations by You or a third party other than Us; and
- Any loss, including expense, interest, damage or loss of any kind or nature (including personal injury, emotional distress, and loss of data, property, income, profit, business, opportunity, use or other economic gains) that occurs due to system failure of Official Platform Partners, the legality of goods and/or services provided in Official Platform Partners or Product Providers, as well as the safety and security of Your Transactions that occur in Official Platform Partners.
- Findaya is not the party that provides the Loan Facility to the Borrower. In this case, the Loan Facility provided to the Borrower only comes from the Lender where funds are channelled by Findaya based on the procedures and mechanisms as determined by Findaya. For the avoidance of doubt, the right, authority and power granted to Findaya by the Lender cannot, in any case and context, be considered or interpreted as a form of transfer of responsibilities and obligations from the Lender (including permits, licenses and certificates required to carry out its obligations) to Findaya. Therefore, the commercial relationship is between the Lender and the Borrower and You understand that Findaya is only responsible as an information technology-based fund-lending service operator that connects the Lender and the Borrower.
- Findaya does not provide any guarantee to You as to the certainty of the availability of Lenders who are willing to provide Loan based on Your funding request.
- You have read, acknowledged and understood and agreed to release Findaya from any and all demands, claims, compensation or other forms in connection with the failure of the loan provision. Findaya has the right not to provide any explanation on the reasons for the failure of the lending, including the rejection, delay or cancellation, except as required by the provisions of the Applicable Law.
- The Platform may contain content provided by third parties as partners who cooperate with Findaya. You understand, acknowledge, accept and agree that Findaya will be released and shall not be responsible or liable for the availability, accuracy, suitability, completeness or correctness of the services, content or products provided through these third party services. Findaya does not make any representations or warranties as to the services, content and/or products provided by third parties as partners who cooperate with Findaya.
- For every purchase of items, products and services from third parties or partners who cooperate with Findaya and that are available through the Platform or other Official Platform Partners, You are required to carry out due diligence on every item, product and service that will be purchased using the GoPayLater service. You release Findaya from any demand, claim and responsibility for any item, product and service purchased from any such partner (merchant or retail) of Findaya.
- Your violation of the rights of other third parties in connection with GoPayLater and/or the GoPayLater service;
- Any use or abuse of the GoPayLater service by You or other parties using Your account;
- Any mistakes committed by parties other than Us, whether intentional or negligent; or
This indemnity provision will remain in effect even after Your account has been terminated.
- Your Account Information
- Your Account in the Platform (“Account”) shall be Your responsibility. You shall not authorize any other person to use Your identity and/or Your Account. You shall not assign or otherwise transfer Your Account to any other parties. You must maintain the security and confidentiality of Your Account’s password and any identification provided by Findaya and/or Gojek to You, including in the form of a one-time password (OTP). If there is any illegal and/or unauthorized use of Your Account or identity by any third party, in any case, instructions generated from such use by third party will be considered as Your instructions, including with regard to Loan Facility request and Loan disbursement, unless You have notified Findaya to block the GoPayLater service for Your Account before such instruction is received by Findaya. You agree, acknowledge and understand that Findaya will not be responsible and will be released from any loss, demand, claims and lawsuit from other parties in any case, in connection with any illegal and/or unauthorized use of Your account or identity by third parties.
- If You have any question, request, complaint or need to provide any information in relation to the GoPayLater service, You must send it via electronic mail to the address as stated in the Platform, contact the phone number or through other means of communication as stated in the Application.
- To respond to Your questions and complaints, Findaya will first verify Your Information. Findaya shall be entitled to refuse to further process Your question or complaint if Your information does not match the data or Information recorded in Findaya’s system by providing notification to You.
- Findaya will review and verify Your complaint and provide a response in accordance with Findaya’s applicable policy and procedure upon receiving a complete complaint submission from You.
- Institutions or government institutions with population data centres for the purpose of verifying the validity of Your identity or other parties who have access to population data centres for the purpose of verifying the validity of Your identity;
- Electronic signature service providers for the purpose of creating digital signatures;
- Credit information providers to obtain information on the status of collectability, credit history and other financial information so that Findaya or its Affiliates can assess the eligibility of (i) You as the borrower, or (ii) requests for Loan Facility by You;
- External collection partners who collaborate with Findaya (if any);
- Credit insurance partners or guarantee provider partners that collaborate with Findaya for the credit risk mitigation requirements for Lender(s);
- Lender for the purpose of requesting funding for the Loan Facility or if You as the Borrower do not pay off the Loan after 90 (ninety) Calendar Days after the Payment Due Date;
- The supervisory authority for the purpose of investigating problems with the use of services provided by Findaya or for other matters in accordance with requests from the supervisory authority in writing to Findaya;
- Alternative Dispute Resolution Institutions, if needed, to settle disputes;
- Authorized associates who are officially appointed by the relevant governmental authority to gather information needed for the compilation of information technology-based fund-lending service data centers;
- Financial Transaction Reports and Analysis Center if Findaya identifies suspicious financial transactions as stipulated in the provisions of the Applicable Law relating to eradication and prevention of money laundering and terrorism financing;
- Law enforcement authorities in the Republic of Indonesia such as the National Police of the Republic of Indonesia, the Corruption Eradication Commission, courts, etc. for any purposes related to law enforcement (including, but not limited to cases of law violation, crime, money laundering, terrorism funding, and corruption) which in this case must be requested formally and in writing by the relevant authority; and
- The Directorate General of Taxes of the Republic of Indonesia to fulfil the reporting obligation in accordance with the provisions of the applicable tax regulations, including among others regulations regarding automatic exchange of information.
- Taxes and Fees
- Event of Default
Events of default are subject to the provisions set out in the Loan Agreement.
- Governing Law and Dispute Settlement
"Affiliate" means (i) the controlling party of; (ii) a subsidiary of; or (iii) parties who are in common control with; or (iv) parties that are in a business group with Us.
"GoPayLater Activation" GoPayLaterhas the meaning given in Article 3.1 (a).
"Account" has the meaning given in Article 4.3.1.
"You" means the party that uses the Platform and/or the GoPayLater service, including but not limited to any party who has registered through the Platform as the Borrower.
"Service Fees" are fees charged to You as the Borrower by Findaya and/or the Lender(s) for using the GoPayLater Akhir Bulan service.
"Loan Interest" means the interest charged to You as the Borrower by the Lender(s) for using the GoPayLater Cicil.
"DAB" has the meaning given in Article 2.2.2.
"Loan Facility" has the meaning given in Article 1.4.
"Gojek" means PT GoTo Gojek Tokopedia Tbk and its Affiliates.
"GoPay" means the electronic money service issued and operated by DAB.
"Calendar Day" means Monday to Sunday, including public holidays and collective leave.
“Business Days” are days, other than Saturdays, Sundays and official national holidays, when banks are open to conduct their business activities in accordance with the regulations of Bank Indonesia and/or OJK.
"Applicable Law" means any law, regulation and implementing regulations, decrees or policies that are valid and have legal force including regulations, regional regulations and other subordinate legislations, requirements and guidelines from the central, provincial, regional, municipal governments, regencies, or regional governments in the Republic of Indonesia and other jurisdictions related to the provision of information technology-based fund-lending services, and including ministries, departments, commissions, bureaus, councils, administrative and/or regulatory agencies or authorities or other instruments thereof which are legally required to be adhered to by each Party.
"Information" means all information, statements, and data, whether existing now or in the future, including all changes and/or updates thereto, about Yourself that You provide to Gojek and/or Findaya and information that can be identified and collected through the Platform, Official Platform Partners, the use of GoPayLater, and the use of any services provided or facilitated by Gojek.
"Loan Limit" means the credit limit available to You as stated on the GoPayLater page on the Platform and/or Loan Agreement.
"Official Platform Partners" means platform, website, or other official applications of various Gojek, Findaya partners or Findaya Affiliates, which through such platform, website, or application some or all parts of the features or Findaya’s products can be accessed subject to the terms and conditions set by those platforms, website, or application.
“Transaction Value” means the value of a successful Transaction paid using GoPayLater.
"Parties" means You and Findaya.
"GoPayLater" has the meaning given in Article 1.4.
"GoPayLater Akhir Bulan" has the meaning given in Article 1.4 (a).
"GoPayLater Cicil" has the meaning given in Article 1.4 (b).
"Lender" means the party that provides and lends loan funds to the Borrower through Findaya as a P2P Lending Operator, in which case all rights and obligations will be carried out by Findaya for the benefit of and on behalf of the Lender(s).
“Borrower” means the party who applies for a loan and receives loan funds from the Lender through Findaya as a P2P Lending Operator.
"Product Provider" means any party who provides goods and/or services through the Application or Official Platform Partners whose payments can be processed using GoPayLater.
"P2P Lending Operator" means information technology-based fund-lending services operator that is officially registered with OJK.
"Loan" has the meaning given in Article 1.6.
“Platform” means an information technology-based fund-lending service platform that can be accessed through a website or application owned or operated by Findaya, which can also be accessed or used through the Official Platform Partners application.
"POJK 77" is the Financial Services Authority Regulation No. 77/POJK.01/2016 regarding Information Technology-Based Fund-Lending Services, as amended or replaced from time to time.
"GoPay Deduction" has the meaning given in Article 2.2.2.
"PPATK" means the Financial Transaction Reports and Analysis Center (Pusat Pelaporan dan Analisis Transaksi Keuangan) which is the central institution (focal point) established by the Government of the Republic of Indonesia which has the function of coordinating the implementation of the prevention and eradication of money laundering in Indonesia.
"Bill" means all Loans that You as the Borrower receive during a Facility Availability Period along with Service Fees (if any) and/or the entire Installment Value along with Loan Interest (if any), which will be billed to You as the Borrower.
"Electronic Signature" is a signature consisting of electronic information that is embedded, associated with or related to other electronic information that is used as a verification and an authentication tool, as regulated in Law No. 11 of 2008 regarding Electronic Information and Transactions, Regulation of the Minister of Communication and Informatics of the Republic of Indonesia Number 11 of 2018 regarding Electronic Certification and POJK 77.
"Payment Due Date" has the meaning as stated on the GoPayLater page in the Platform and/or Loan Agreement.
"Transaction" means any transaction of any kind with a Product Provider in which the payment (either in part or in whole) can be made using GoPayLater.
"WNA" stands for foreign citizens (warga negara asing)or foreign legal entities.
- The Parties hereby represent that no government institution of the Republic of Indonesia, including but not limited to the Financial Services Authority (OJK), is responsible for any credit risks and/or failure to pay and all losses arising out of or relating to the provision of Loan Facility.