Borrower Registration Agreement 

 

This BORROWER REGISTRATION AGREEMENT (hereinafter referred to as this “Agreement” and includes any exhibits attached hereto, which may be amended, supplemented or otherwise modified from time to time), dated this ___________day of ___________, _________, and entered into:

By and between

“ M/s DIPAMKARA WEB VENTURES PRIVATE LIMITED ”, a private limited company incorporated under the provisions of the Companies Act, 1956 (1 of 1956), and having its registered office at  6-3-1109/5 & 6, 4th Floor, G.S Mall, Somajiguda, Hyderabad, Telangana(hereinafter referred to as “Company” or “i-lend” or “us” or “we”, which expression shall, unless repugnant to or inconsistent with the context, mean and include its successors and permitted assignees); 

and

Mr/Ms/Mrs_______________________________________, S/o__________________________________________, 
R/o_______________________________________ 
(hereinafter referred to as the "Borrower" which expression shall, unless repugnant to or inconsistent with the context, mean and include their successors and permitted assignees).  [i-lend and the borrower shall together be referred to as the “Parties” and severally as the “Party”]

Witnesseth 

Whereas, i-lend is an online social lending platform that brings together borrowers and lenders, and the Company provides services (as specified in this agreement) in relation to the borrowing / lending transactions made through i-lend

Whereas, a person who creates an account with i-lend on www.i-lend.in can find a suitable lender through the services of i-lend on such terms and conditions as may be provided in this agreement. 

Whereas, the person who intends to avail loan through i-lend:

a) Have created an account with i-lend by giving basic information covering name, screen name, contact nos. date of birth, nationality, email, place of residence, chosen password, gender, marital status, employment and such other information sought  for.

b) Have registered online by providing additional personal details, viz, father’s name, Gross income, PAN and such other information sought for.


Whereas, on successful activation of online registration, the person agrees to execute this agreement as a borrower for availing i-lend services. 

NOW THEREFORE, IN CONSIDERATION OF THE MUTUAL PROMISES, COVENANTS AND CONDITIONS HEREINAFTER SET FORTH, THE RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, THE PARTIES HERETO AGREE AS FOLLOWS:
1. Definitions and interpretation

1.1 In this agreement (including any recitals, annexure, schedules or exhibits attached thereto) except where the context otherwise requires, the following words and expressions shall have the following meaning:-

a) “Act” means the (Indian) Companies Act, 1956.

b) Eligible listed borrower means the person whose verification is completed by i–lend.

c) Eligible listed lender means the person whose verification is completed by i–lend.

d) i- lend borrower is an individual who satisfies the following criteria:
i. Indian resident as per FEMA regulations
ii. Above age of 21years.
iii. Should be an earning member
iv. Have an identity proof
v. Have income proof
vi. Have a valid bank account

e) i-lend lender is an individual who satisfies the following criteria:
i. Indian resident as per FEMA regulations
ii. Above age of 21 years
iii. Have an identity proof
iv. Have a valid bank account

f) i-lend Rating means rating given by i-lend based on its proprietary algorithm.

g) “Indian Resident” is a person resident in India as defined under clause 2(v) Foreign Exchange Management Act, 1999. The same is reproduced as under:

Person resident in India for more than 182 days during the course of preceding financial year but does not include:
i. A person who has gone out of India or who stays outside India, in either case:
a. For or on taking up employment outside India; or
b. For carrying on outside India a business or vocation outside India; or
c. For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period.

ii. A person who has come to or stay in India, in either case, otherwise than
a. For or on taking up employment in India, or
b. For carrying on in India a business or vocation in India, or
c. For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;

h) “Listing” is a borrower / lender public profile page that shows an interest by either lender / borrower to offer / take loans through i-lend and this can be viewed by all registered users on i-lend

i) “Lender Listing” is a commitment by lender to offer loan to borrowers on i-lend.

j) “Borrower Listing” is a loan request by i-lend Borrower on i-lend portal.

k) “Listing Period” is a period of 10 continuous days for a listed borrower. 

l) “Additional Listing Period" is a period of 7 continuous days in addition to listing period

m) “Person” means an individual.

n) Servicing by i-lend:
1. Verification of the lender and borrower
2. Collecting duly signed agreements from the lender(s) and the borrower(s)
3. Collecting the cheques from the lender(s) in the name of borrower(s) and ensure that they are delivered to the borrower.
4. Collect the post-dated cheques from the borrower(s) in the name of lender(s) and ensure that the same are delivered to the lender(s) or help the borrower(s) in getting the ECS facility with their bank.
5. If the post-dated cheques are dishonoured / no credit through ECS is given by the bank, then i-lend on behalf of lender will take such necessary steps as permitted by law against the borrower to realize the amounts due along with the interest at the decided rate and other fees as agreed in this agreement including appointment of collection agents, if required.

1.2 References to Articles, Clauses, Recitals, Appendices and Schedules are to articles, clauses, recitals, appendices and schedules to this agreement.

1.3 Any reference to a statutory provision shall include such provision as is from time to time modified or re-enacted or consolidated so far as such modification or re-enactment or consolidation applies or is capable of applying to any transactions entered into hereunder.

1.4 Words denoting the singular only shall include the plural and vice versa.

1.5 Words denoting the masculine gender only shall include the feminine gender and vice versa.

1.6 The recitals to this agreement shall be and form an integral part of this agreement.

1.7 Headings in this agreement are for convenience of reference only and shall not be used to construe or interpret this agreement.  

2. Commencement

This agreement shall come into effect from the date of this agreement.  

3. Registration

3.1 Borrower agrees to register with i-lend as i-lend borrower for availing the loan from eligible listed i-lend lenders. Post registration borrower is allowed to list his requirements on i-lend portal. He can view the other borrower/ lender listings. Borrower's listing will be displayed and he can receive offers or make requests only on successful verification. Verification process is mentioned in section 4 of this sgreement. Those borrowers whose online registration is completed should submit the documents sought for verification by i-lend personnel to the borrower. This will be completed within 3-5 working days from the date of your registration on the site. 

3.2 i-lend borrower hereby agree to receive SMS transaction alert posted by i-lend on any new registrations, loan closures, repayments, offers on loans, request from borrowers etc. Registered members are availing this services on their own will and there will be no financial obligation of i-lend in case of legal disputes. The registered members are obliged to notify i-lend, any change on his/ her mobile phone numbers. The registered members are allowed to opt out from receiving SMS transaction alert by notifying i-lend in writing.

3.3 Registered members hereby allow i-lend to access, collect and display any public information available in the domain of Facebook /Linkedin or any other social networking site, in their portal. The registered members can however restrict either access, collection or display of information by notifying to i-lend.

4. Verification and authorisation to obtain credit report

4.1 On successful completion of execution of this agreement, the borrowers are subject to verification. Verification process includes physical verification to check on correctness of data provided for online registration by the borrower with the proofs. Borrower should provide the following list of documents at the time of verification by i-lend team.

4.1.1 Identify Proof: PAN card, Passport, Driving License, Ration card or such other document which are issued by government agency.

4.1.2 Address Proofs: Passport, Driving License, Ration Card or such other  document which are issued by any government agency.

4.1.3 Additional Proofs: Employment contract, latest 3 months’ salary slips, Details of existing loans whether secured or unsecured, Post-paid mobile connection proof, Six months bank statement.
And such other information / documents as required by i-lend. The exhaustive  list can be seen on the website and also will be communicated through e-mail

4.2 Borrower hereby authorises i-lend to obtain credit report from Credit Information Bureau (India) Limited (CIBIL) or such other organisation which provide such facilities not only for the first time on registration but at any time during his loan tenure (including but not limiting to each listing) at the discretion of i-lend. The credit report shall be used for any purpose that is authorized by applicable law in connection with extension of credit transaction involving borrower, including but not limited to :

i. To know the financial strength
ii. To understand the credit worthiness
iii. To make the informed lending decisions in an objective manner
iv. To evaluate the loan amount eligibility
v. To enable quick loan approvals
vi. To regularly monitor the credit history
vii. To assign ratings 

4.3 i-lend has the right to reject any borrower application if any information provided by the borrower is inaccurate or incorrect

4.4 Information on above credit report will be displayed on i-lend’s website with borrowers listing which will be accessible by the registered lender.

4.5 If any changes occur in the personal information provided after posting a listing but before listing expires, borrower must either
      a. Promptly notify i-lend of the change, or
      b. Withdraw the listing.

In the event of not notifying, i-lend at its sole discretion may take necessary action including removing the listing.

4.6 i-lend borrower hereby agree that documents sought by i-lend at the time of registration or anytime thereafter become part of the official record of i-lend and will not be returned back. However on closure of the user account i-lend will ensure that the same is destroyed.

5. Listings

Borrower's listing will be displayed and he can receive offers or make requests only on successful verification by i-lend. The listing should comprise of following credentials to be filled by the borrowers

a. Purpose of Borrowing
b. Amount required
c. Interest expected to pay
d. Tenure of loan
e. Any other information such as but not limited to employment details, city of residence, etc. that does not reveal the borrowers identity

The above information will be made public to all visitors on the site. Once i-lend completes verification, the borrowers listings will be active. Then interested eligible listed lenders can make commitments to fund all or a portion of the loan with specific requirements covering interest, term of repayment etc. Alternatively, eligible listed borrowers can access the eligible listed lenders and make a request to offer them a loan. The borrower listing will be frozen if posting receives commitments equal to or exceeding the minimum amount (as specified in the website) required for the loan to fund unless the same is withdrawn prior to expiration of borrower listing period or additional listing period as the case may be. The eligible listed borrower can’t accept or reject individual offers made by eligible listed lender. He can accept or reject offers only for the entire loan.

5.1 Duration of Borrower Listings:  

Borrower Listing will be open for a period of 10 continuous days (“Listing Period”). However, the borrower can opt to close or withdraw the loan transaction before the expiry of 10 (Ten) days. When sufficient commitments are not received for a borrower listing during the period mentioned above, borrower listing can be extended for additional 7 continuous days only for one time as per the conditions mentioned in this agreement (“Additional Listing Period”).

5.2 Modification in Borrower Listing:

Borrower listing once posted (like purpose, why lend to me, other information etc) cannot be modified; only certain sections such as photos / videos can be modified. However, the same can be withdrawn subject to meeting the conditions as set forth in section 5.4 and new listing can be posted subject to condition 5.6.  

5.3 Information Included in Listings:

Any person who visits i-lend website will be able to view any borrower listing which shows the loan amount, interest rate willing to pay, loan tenure, purpose of borrowing, and other details such as city of residence, education qualification, marital status, assets owned etc., and other information provided to i-lend. However, credit report from third party agency will only be viewable by eligible i-lend lenders.   

5.4 Withdrawal of Borrower Listings: 

Eligible listed borrower can withdraw borrower listing any time prior to the expiration of the listing period or additional listing period as the case may be. After the expiration of listing period or additional listing period as the case may be, borrower will not have any right to withdraw his listing and if a loan is made to the borrower, borrower do not have any right to rescind the loan.  In the event of the borrower does not accept the loan, i-lend will block his application for all future loans through i-lend.  

5.5 Additional Borrower Listings: 

No borrower can list for additional loans during the subsistence of any existing loan.   

5.6 Re-Listing of Loan:

If borrower withdraws his listing during the listing period or additional listing period as the case may be, may post a new borrower listing 

1. Within 30 continuous days containing the updated information. In such case, the borrower need not go through the verification process. However, any change in address, employment, contact details etc. will require the borrower to go through the verification process again.

2. After 30 continuous days containing the updated information. In such case, the borrower will necessarily have to go through the verification process again. i-lend reserves the right, in its sole discretion, to limit the number of re-listing of loans a borrower can post or attempt to post on its platform

5.7 Minimum and Maximum amount of Listing

A borrower can post a listing up to a minimum of ` 25,000 and a maximum of `5.00 Lakhs (Rupees Five Lakhs only).  i-lend can modify the limits from time to time at its discretion.   

6. Matching of lenders, commitments and listings; Loan funding
6.1 Loan Funding:

6.1.1 On posting a borrower listing, borrower might receive offer from several registered eligible listed lenders.

6.1.2 i-lend will also publish the maximum loan amount eligibility for each borrower depending on but not limited to his income and existing debt.

6.1.3 Borrower can at any time accept/ reject the loan offer during the loan period or additional loan period as the case may be, provided in case of acceptance, minimum amount as specified in section 6.2.1 is received as commitment from lender.

6.1.4 Borrower listing will be frozen on due date of listing period or additional listing period, if the borrower listing receives commitments equal to or exceeding the minimum amount required for the loan to fund unless the same is withdrawn  prior to expiration of borrower listing period or additional listing period as the case may be. Failure on part of borrower to reject the offer will constitute his acceptance to the same.

6.1.5 i-lend selects the best offers available against borrower listing based on the lowest interest rate quoted by the eligible listed lenders based on i-lend’s built-in system intelligence.

6.1.6 On acceptance of loan offer, i-lend will liaison between lender and borrower to sign documents required to enable the transaction. After completing the legal formalities / documentation between borrower and lender, loan proceeds are disbursed within a period 3-5 working days into borrower’s designated deposit account. 

6.1.7 If the borrower fails to abide by his commitment towards acceptance of loan, his name will be delisted and he will not be allowed to carry out any transaction on i-lend in future.  

6.2 Partial Loan Funding:

During the listing period, if the borrower fails to receive commitments for the entire borrower listing, he is provided with the following 2 (two) options:–

6.2.1 To accept the amount received subject to a minimum of 50% of loan amount not less than `25,000/-

6.2.2 To extend the listing by another 7 (Seven) days. If the borrower does not receive 100% commitment even in additional listing period, he may accept the loan subject to condition (6.2.1) or withdraw his listing. i-lend may change the threshold options of partial funding from time to time. Any such change will only affect listings created after the change is made.   

6.3 Delayed Funding:

i-lend may delay depositing the funds of a loan:
i. If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders;
ii. To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
iii. In case of delay in deposits by the committed lenders.   

6.4 Cancel Funding:

i-lend reserves the right to verify the accuracy of all information provided by i-lend borrowers, in connection with listings and loans through any of the available modes including by making a tele-call before, during or after the posting of a listing, or before or after the funding of a loan. In case of any suspected fraud or inaccuracies in the information provided to it, i-lend reserves its right to cancel the funding at any point of time before disbursal.

7. Transaction commission

When borrower listing is frozen, i-lend would charge a processing fee of 3% of loan amount excluding service tax. The latest charges can be seen on the website.  The processing fees will be collected through cheque in favour of Dipamkara Web Ventures Private Limited.

8. Making loan repayments

8.1 The repayment date for all borrowers is on 7th of every month. In case of a holiday, EMI will be collected on the next working day. i-lend collects post-dated cheques for the EMI amount from the borrowers for the total repayment amount at the time of loan disbursement. Lenders share of the amount (calculated on pro rata basis) is then transferred to their account.

8.2 Late Fees

Borrower agrees to pay the principal and the interest amount at the settled dates in the admitted manner. In the event of delay payments, a late fee is charged based on the following criteria:- 

• 01 - 10 days, 05% of EMI amount
• 11 - 20 days, 10% of EMI amount
• 21 - 31 days, 20% of EMI amount
• 30 - 60 days, 50% of EMI amount

i-lend collects the late fees from the borrower through cheque in favour of the lender & deposits the same in the lender bank account. Please note that i-lend at its sole discretion can increase this amount. To know the latest charges, please visit www.i-lend.in.

8.3 If the i-lend ties up with any bank in the near future, borrower agrees to open a bank account with the i-lend designated bank through which all the loan transactions will be processed. In such a case, borrower agrees to make loan payments through ECS by maintaining an EMI Account. Till that period, borrower agrees to provide post-dated cheques for the EMI amount for the total repayment amount at the time of loan disbursement 

8.4 Prepayment of loan

The borrower can at time repay the loan subject to the below conditions and there is no penalty for the same.

8.4.1 Minimum six EMI must be paid
8.4.2 The above conditions are subject to change at the sole discretion of i-lend and can be seen on the website. These changes will be effective for on-going loans as well as new loans.
8.4.3 Prepayment of loans allows borrower to reduce the loan tenure but not the EMI amount.

8.5 Interest

The rate of interest applicable to the loan is compounded monthly and rests on the outstanding balance, namely the balance of loan and unpaid interest and costs, charges and expenses outstanding at the end of the month. 

8.6 Penal Charges

The borrower shall be liable to pay penal charges if any levied by the banks on account of cheque bouncing, cheque swapping or on return of any cheque issued by the borrower.

9. Collection and reporting of delinquent loans

Borrower agrees to pay the principal and the interest amount at the settled dates in the admitted manner. In the event of delay payments, a late fee is charged based on the following criteria:-

• 01 - 10 days, 05% of EMI amount
• 11 - 20 days, 10% of EMI amount
• 21 - 31 days, 20% of EMI amount
• 30 - 60 days, 50% of EMI amount

In case a borrower misses an instalment, i-lend will contact the borrower over phone and follow-up on the repayment. Late fees are charged here. In case, the borrower is not reachable over phone, he/she is contacted through e-mail & letter. If the borrower does not pay for two subsequent months, legal notice is sent to him.

After a period of 60 days, i-lend on behalf of the lender either directly or indirectly will exercise all the remedies legally available under the laws applicable from time to time. In addition, the loan may be referred to collection agencies and all the dues including the money spent in recovery will be collected from the borrower. i-lend is authorised to report such delinquencies to one or more credit reporting agencies.

10. Obligations by respective parties

10.1 i-lend obligations: After freezing the borrower listing either in the listing period or additional listing period, i-lend agrees to liaison between the lenders and borrowers to execute the required legal documents which will bind both the parties till the clearance of all the payments. i-lend agrees to engage the services of a collection agency on behalf of the lender to collect timely payments from the borrower.
10.2 Borrower obligations:
10.2.1 To provide accurate and true information
10.2.2 To provide certified true copies for the documents sought
10.2.3 Not to share information that may reveal borrowers identity in the borrower listings
10.2.4 To comply with the terms of use for the website, privacy policy and as well any other rules or policies set forth on i-lend’s website (www.i-lend.in), any of  which may be amended from time to time by i-lend in its sole discretion. (collectively known as "i-lend terms and conditions").
10.2.5 To repay the required funded amount without any failure.
10.2.6 To co-operate with i-lend with the information/ documents sought from time-to-time.
10.2.7 Agree that, in connection with any borrower listings, lender commitments, loans or other transactions involving or potentially involving i-lend, not to(i) make any false, misleading or deceptive statements or omissions of material fact;(ii) misrepresent his identity, or describe, present or portray himself as a person other than him(iii) give to or receive from, or offer or agree to give to or receive from, any i-lend lender or other person any fee, bonus, additional interest, kickback or thing of value of any kind, including in exchange for such person's commitment, recommendation, or offer or agreement to recommend or make a commitment with respect to your listing;(iv) represent himself to any person as a director, officer or employee of i-lend, unless being so(v) Post anything abusive, harmful content or pictures; which is defamatory to i-lend and other members on the site
10.2.8 To either accept, withdraw or reject the listing offer  prior to expiration of borrower listing period or additional listing period as the case may be

11. Representations and warranties

Each party to the agreement makes the following representations and warranties with respect to itself, and confirms that they are, true, correct and valid:

11.1 It has full power and authority to enter into, deliver and perform the terms and provisions of this agreement and, in particular, to exercise its rights, perform the obligations expressed to be assumed by and make the representations and warranties made by it hereunder;

11.2 Its obligations under this agreement are legal and valid obligations binding on it and enforceable against it in accordance with the terms hereof.

11.3 The parties to the agreement warrant and represent to have the legal competence and capacity to execute and perform this agreement.  

12. No gurantee

i-lend does not guarantee: 
12.1 That borrowers listing will be matched with any lender commitments, or 

12.2 That borrower will receive a loan as a result of posting a listing, or

13. Restrictions on use

Borrower represents himself and no third party. All the transactions carried will be solely by borrower from his deposit account. A registered borrower may also register & participate as lender on i-lend portal. However there will be separate accounts for borrower and lender role. If borrower participates on the platform as a lender, any amounts in your funding account are subject to set-off against any delinquent amounts owing on any loans obtained by him as a i-lend borrower. 

14. Termination
14.1 Listing:

In the event of any failure to repay the loan, borrower will not be eligible to post further listings and his access to the i-lend portal will be restricted.


14.2 Registration:

i-lend may at its sole discretion, with or without cause, terminate this agreement and registration with i-lend at any time by giving a notice to the borrower.

14.3 Listing and/ or Registration:

i-lend has sole authority to determine the non- compliance of borrowers’ obligations mentioned under para 10.2 above, involvement of borrower in any prohibited activity or illegal purpose, borrowers failure to abide by the terms of this agreement or the i-lend terms of service and any law of land. Upon such determination in connection with registration/ borrower listing, i-lend may, at its sole discretion, immediately and without notice, take one or more of the following actions

14.3.1 Cancel funding, or 
14.3.2 Terminate or suspend borrowers right to post borrower listings or otherwise participate on the platform; or
14.3.3 Terminate this agreement and registration with i-lend   

14.4 Consequences on  termination of Registration:

Upon termination of this agreement and registration with i-lend, any borrower listings which are not funded shall be cancelled and will be removed from the platform immediately. Borrower obligations will subsist for the loans funded prior to the effective date of termination of this agreement and registration with i-lend.   

15. i-lend's right to modify terms

i-lend reserves the right to modify the clauses of the agreement or its terms of service. Changes will not apply retrospectively. Changes to the terms of service will become effective no sooner than two days after they are posted. i-lend will give you notice of material changes to this agreement, within 14 working days and will be available on the website

16. Indemnification

Borrower agree to indemnify and hold i-lend harmless from and against any and all claims, action, liability, cost, loss, damage, endured by i-lend by your access in violation to the listed terms of service and also to the applicable laws, rules and regulations or agreements prevailing from time to time.  

17. Severability

If any provision of this agreement is found to be invalid or unenforceable, then the invalid or unenforceable provision will be deemed superseded by a valid enforceable provision that most closely matches the intent of the original provision and the remainder of the agreement shall continue in effect.  

18. Intellectual property rights

i-lend and all related logos (collectively the "i-lend trademarks") are trademarks or service marks of i-lend. Nothing on this site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any of i-lend trademarks displayed on this site, without our prior written permission in each instance. Borrower should not use, copy, display, distribute, modify or reproduce any of the trademarks found on the site unless in accordance with written authorization by us. i-lend prohibits use of any of i-lend trademarks as part of a link to or from any site unless establishment of such a link is approved in writing by i-lend in advance.  

19. Notices

All notices and other communications hereunder shall be given by email to vorrowers registered email address and wherever possible, posted on i-lend’s website. Borrower may request i-lend to send the correspondence through post, for which Borrower has to bear the expenditure. For effective communication, borrower agree to notify any changes in the communication details i.e. mailing address, contact details, email-id by writing in post to Dipamkara Web Ventures Pvt. Ltd., 8-6-3-1109/5 & 6, 4th Floor, G.S Mall, Somajiguda, Hyderabad, Telangana 500082. or sending an  email at This email address is being protected from spambots. You need JavaScript enabled to view it.  

20. Errors

Borrower authorizes i-lend to correct obvious clerical errors appearing in information you provide to i-lend, without notice to him, although i-lend expressly undertakes no obligation to identify or correct such errors.  

21. Governing law, dispute resolution and jurisdiction

21.1 Any and all disputes or differences between borrower and i-lend the Company, arising out of or in connection with this agreement or its performance shall, so far as it is possible, be settled by negotiations between the parties amicably through consultation 
21.2 Any dispute, which could not be settled by the parties through amicable settlement (as provided for under Clause 21.1 hereinabove) shall be finally settled by the court of law having jurisdiction to grant the same. Jurisdiction – Hyderabad, AP
21.3 This agreement and the arrangements contemplated hereby shall in all respects be governed by and construed in accordance with the laws of India without giving effect to the principles of conflict of laws thereunder.   

22 Force majeure

No party shall be liable to the other if, and to the extent, that the performance or delay in performance of any of its obligations under this agreement is prevented, restricted, delayed or interfered with, due to circumstances beyond the reasonable control of such party, including but not limited to, Government legislations, fires, floods, explosions, epidemics, accidents, acts of God, wars, riots, strikes, lockouts, or other concerted acts of workmen, acts of Government and/or shortages of materials. The party claiming an event of force majeure shall promptly notify the other parties in writing, and provide full particulars of the cause or event and the date of first occurrence thereof, as soon as possible after the event and also keep the other parties informed of any further developments. The party so affected shall use its best efforts to remove the cause of non-performance, and the parties shall resume performance hereunder with the utmost dispatch when such cause is removed.  

23. Binding effect

All warranties, undertakings and agreements given herein by the parties shall be binding upon the parties and upon its legal representatives and estates. This agreement (together with any amendments or modifications thereof) supersedes all prior discussions and agreements (whether oral or written) between the parties with respect to the transaction.   

24. Entire agreement

This agreement, along with the i-lend terms and conditions, represents the entire agreement between you and i-lend regarding your participation as a borrower on the platform, and supersedes all prior or contemporaneous communications, promises and proposals, whether oral, written or electronic, between you and i-lend with respect to your involvement as a borrower on the platform.