GENERAL TERMS AND CONDITIONS OF THE TARGETED SMALL LOAN AGREEMENT
1. DEFINITIONS
1.1. Client is the loanee, that is, the natural person who has submitted the Loan Application and to whom the MediCredit has disbursed the Loan Amount and who undertakes to repay the Loan in accordance with the Agreement and the Payment Schedule.
1.2. Creditor is a legal entity, MediCredit OÜ (registry code: 12533115 address Pärnu mnt. 67a Tallinn, 10134, Estonia), whose business area is financial services.
1.3. Agreement consists of these general terms and conditions of the targeted small loan and the Payment Schedule and possible annexes, agreed upon by the Parties.
1.4. Loan Amount or Loan is the amount of money MediCredit lends to the Client for the financing of a medical service provided by the Medical Institution, in accordance with the Agreement. Before disbursing the Loan, MediCredit makes the Loan Decision for a Loan Disbursement.
1.5. Loan Calculator is a calculator based on the MediCredit Website, whereby the Client can calculate the Loan Amount he wishes to loan from MediCredit and which he undertakes to repay in accordance with this Agreement and the Client’s Personal Payment Schedule drawn up on this basis. If the Client finds a suitable Loan through the Loan Calculator, he/she will be able to submit a Loan application in accordance with the Agreement.
1.6. Due dates are the dates on which the Client must return the respective part of the Loan Amount and Interest to the MediCredit, or to execute the monthly payment specified in the Payment Schedule.
1.7. Loan Offer is MediCredit’s personal Loan Offer, which MediCredit makes to the Client, based on the Client’s requested Loan Amount and its creditworthiness. After submission of the Loan Application, the Loan Offer will be forwarded to the Client.
1.8. Loan Decision is a decision in which MediCredit decides whether it agrees to enter into an Agreement with the Client and issue the Loan Amount or not. MediCredit may also reasonably refuse to accept the Loan Application requested by the Client. In both cases, MediCredit informs the Client of its decision. MediCredit Loan Decision may be included in the Loan Offer or may also be a separate document.
1.9. Loan Applicant is a natural person who has submitted a Loan Application to MediCredit. He/she has completed the respective application form for a Loan Application or submitted a Loan Application through the MediCredit Website. The Loan Applicant becomes a Client when MediCredit has made a positive Loan Decision.
1.10. Loan Application is the Loan Applicant’s declaration of intention for the Loan to be transferred by the Loan Applicant to MediCrediti either as a self-signed application or via the MediCredit Website.
1.11. Payment Schedule is a personal loan schedule for the Loan and Interest installments drawn up and transmitted to the Client by MediCredit based on the Agreement. The Loan Amount, Interest, Monthly Payment, total amount of the Loan and Interest Amount are shown in the Payment Schedule. The Payment Schedule is an integral part of the Agreement.
1.12. Monthly Payment is the Loan installment in the Payment Schedule, which consists of Loan Amount and Interest. The Loan and Interest are divided into Monthly Payments according to the Client’s Loan Application and/or the Loan Offer submitted by MediCredit.
1.13. Interest is the price of the loan that the Client has to pay to MediCredit for using the loan.
1.14. The European Consumer Credit Information Sheet is a form of pre-contractual information provided by MediCredit to the Client on a durable medium prior to the conclusion of the contract, which brings together the contractual terms and conditions provided by MediCredit and the data according to the information provided by the Client.
1.15. Party or Parties are MediCredit and the Client separately or together.
1.16. Business Day is each calendar day from Monday to Friday, which is not a national holiday.
1.17. Website is MediCredit´s homepage on the Internet at www.medicredit.ee.
1.18. Medical Institution is a provider of dental care, prosthetics or other dental care, a provider of surgical services, an animal clinic or other medical service provider, which is partner of MediCredit OÜ and which provides a Personal Identification Service on the basis of a cooperation agreement with MediCredit, accepts Loan Applications and to whom MediCredit issues the Loan Amount at the request of Client. MediCredit OÜ partner list of Medical Institutions is listed on the MediCredit website. Medical Institution is not a party to this Agreement. The name of the Medical Institution, contact information and other information about the institution are indicated in the Loan Application.
1.19. An economically connected sales contract is, in the context of this Agreement, an agreement entered into by the Client with a Medical Institution for the provision of a service and constitutes a contract relating to a consumer credit agreement with MediCredit, since the purpose of the Agreement is to finance the cost of the service by MediCredit.
2. LOAN APPLICATION AND CONCLUSION OF THE AGREEMENT
2.1. Upon submission of the Loan Application and prior to the signing of the Agreement and the Payment Schedule, the Loan Applicant must identify his/her identity on the basis of a valid personal identification document at Medical Institution that is partner of the MediCredit or at the office of MediCredit. The identity documents are the passport of the Republic of Estonia, ID card or driving license issued in Estonia. Identity document, based on which the identity of the Applicant is identified, must be valid. Loan Applicant is responsible for the accuracy of his/her data.
2.2. Medical Institution that has identified the Loan Applicant´s identity shall make a copy of the applicant’s personal identification document on the respective form and shall transmit the copy to MediCredit.
2.3. The Loan Applicant submits a Loan Application for a Loan to MediCredit. To apply for a loan, the Applicant must be at least 21 years of age. The Loan Applicant has two (2) options to submit a Loan Application:
1) The Loan Applicant shall enter his/her data on the registration form on the MediCredit Website, reviews and confirms that he/she agrees to the terms of the Agreement and submits an electronic Loan Application. If MediCredit makes a positive Loan Decision, they will forward the Agreement and the personalized Payment Schedule to the Client´s e-mail address for digital signing. MediCredit also provides the Client with the European Consumer Credit Information Sheet.
2) The Loan Applicant identifies his/her identity, reviews and signs the Agreement and completes and personally signs the Loan Application at the Medical Institution If MediCredit makes a positive Loan Decision or its own Loan Offer, MediCredit will forward the Agreement and the Payment Schedule to the Client for signing, according to the Client’s wish, either via e-mail or regular post. MediCredit also provides the Client with the European Consumer Credit Information Sheet.
2.4. The Loan Amount and Loan Repayment Period applied by the Loan Applicant must be in accordance with the Loans offered by MediCredit. MediCredit issues the Loans that arise from the Loan Calculator on the MediCredit Website and/or the Loan Products Table. The maximum amount of Loans issued by MediCredit is EUR 6000, with a deadline up to 4 years.
2.5. After transferring the Loan Application to the MediCredit by the Loan Applicant, MediCredit will assess the creditworthiness of the Loan Applicant based on six (6) calendar months bank statements issued by the Loan Applicant and other information either public and/or provided by the Loan Applicant. With the submission of the Loan Application, the Loan Applicant grants MediCredit the right to make queries about the Loan Applicant from public registers and databases.
2.6. MediCredit has the right to refuse to pay out the amount of the Loan if after the submission of the Loan Application it appears that:
1) The Loan Applicant has submitted to MediCredit false information about him-/herself, its solvency or other circumstances;
2) The Loan Applicant´s economic situation has deteriorated so badly that the proper repayment of the Loan Amount is, according to MediCredit, in jeopardy as well as if the Loan Applicant has become insolvent;
3) The Loan Applicant has, due to public registers, duly fulfilled obligations towards third parties;
4) Enforcement proceedings have been initiated against the Loan Applicant.
If MediCredit has become aware of the above circumstances, MediCredit will promptly inform the Loan Applicant of the decision to refuse to grant the Loan.
2.7. If MediCredit decides to satisfy the Loan Applicant’s Loan Application, the Loan Applicant will be informed of the Loan Decision by e-mail no later than twenty four (24) hours from the submission of the Loan Application. If MediCredit finds that the Loan Amount and repayment deadline of the Loan requested by the Loan Applicant does not match the Loan Applicant’s creditworthiness, MediCredit may make its own Loan Offer. If the Loan Applicant accepts the Loan Offer made by MediCredit, it will immediately notify MediCredit via e-mail.
2.8. The transmission of the Loan Application to MediCredit does not oblige MediCredit to sign the Agreement nor issue the Loan Amount. In the event that MediCredit decides not to satisfy the Loan Applicant’s Loan Application, MediCredit shall promptly inform the Loan Applicant by means of the Loan Decision, indicating in the Loan Decision the reason of the disapproval. The Loan Decision is forwarded to the Loan Applicant to the e-mail address indicated by him/her.
2.9. If the Loan Applicant does not accept the MediCredit Loan Offer provided in Clause 2.7 of the Agreement or does not notify MediCredit about the acceptance of the Loan Offer within three (3) calendar days, the Loan Applicant’s Loan Application is considered unsatisfactory and MediCredit does not disburse the Loan Amount to the Medical institution.
2.10. The loan agreement is considered concluded after MediCredit has paid the loan amount to the Medical Institution.
3. DISBURSEMENT OF THE LOAN AND PAYMENT SCHEDULE
3.1. The Loan Amount applied by the Client is paid out by MediCredit directly to the Medical Institution providing the medical treatment. The Medical Institution or the Client may, if necessary, provide to MediCredit a prepayment invoice or invoice for the treatment provided to the Client, in order to facilitate the payment to the Medical Institution. The Loan Amount will be paid out without additional instructions from the Client, no later than within three (3) business days.
3.2. Upon the positive Loan Decision or acceptance of the Loan Offer by the Client, MediCredit will prepare a personalized Payment Schedule for the Client based on the Loan Application made by the latter and/or the Loan Offer made by the MediCredit. The Loan Amount, Interest, Monthly Payment, Due dates of the repayment of the Loan Amount, Total Amount of Loan and Interest, and contact details and bank details of MediCredit are shown in the Payment Schedule.
3.3. MediCredit shall forward the Payment Schedule drawn up for the Client to the Client with the Agreement via e-mail, regular post or Medical Institution. The Client confirms the acceptance and receipt of the Payment Schedule and signs the Payment Schedule and the Agreement either digitally and sends the Agreement and the Payment Schedule to MediCrediti by e-mail or signs on paper form and sends it to MediCredit either through the Medical Institution or hand delivery or by bringing it to the MediCredit Office not later than within three (3) working days from the date of receipt of the Agreement and the Payment Schedule.
3.4. In the event that the Client has not received the Agreement and the Payment Schedule within three (3) working days, the Client is obliged to notify the MediCredit without any delay.
3.5. The Client is obliged to repay the Loan and pay the Interest in accordance with the Payment Schedule drawn up by MediCredit. Monthly payments paid by the Client are considered to be paid in a timely manner if the respective amount has been received on the MediCredit account on the due date specified in the Payment Schedule, as indicated on the Website and in the Payment Schedule. The maximum Loan repayment and Interest payment period is 4 years. The Loan repayment period, the respective Interest rate, and its sum amount are agreed upon with the Client individually, in the Payment Schedule.
3.6. In the event that the Client fails to pay the monthly payment of the Loan, on the due dates agreed upon in the Payment Schedule, MediCredit has the right to claim interest for late payments from the Client in accordance with Clause 6.1. In the event that the Client delays payment of three or more installments specified in the Payment Schedule, MediCredit has the right to cancel the Agreement prematurely, in accordance with Clause 8 of the Agreement, and to demand payment of the total amount of the Loan and the Interest.
3.7. During the validity of the Agreement, the Client has the right to demand the transfer of a certified copy of the Agreement, the Payment Schedule or any other annex of the Agreement from MediCredit.
4. INTEREST
4.1. The Client undertakes to pay the Loan Amount and Interest at the due date of the Monthly Payment indicated in the Payment Schedule. The Interest rate depends on the amount of the Loan and the length of the Loan repayment period. Interest will be paid on each Loan Amount requested and received separately. The general principles for calculating MediCrediti interest are as follows: interest is calculating from the loan balance, no deposit obligation, no agreement fee and payment is made as monthly installments. Interest, interest rate and annual percentage rate of charge of the Loan are shown in the European Consumer Credit Information Sheet provided to the Client.
4.2. The amount of Interest and the interest rate shall be agreed upon in the personalized Payment Schedule drawn up for the Client. As well, the sum of Interest, the interest rate and the rate of charge of the Loan are set out in the European Consumer Credit Information Sheet and, if the Client has applied for the Loan Amount on the MediCredit Website, in the Loan Product Table, then the Amount and Amount of Interest are also reflected in the above mentioned Loan Products Table.
5. WITHDRAWAL FROM THE AGREEMENT AND PREMATURE REPAYMENT OF THE LOAN
5.1. The Client may withdraw from the Agreement, by making a respective withdrawal application, within fourteen (14) calendar days after the conclusion of the Agreement.
5.2. The Client has the right, in the event of withdrawal from the Agreement, to withdraw from the economically connected sales contract (service contract).
5.3. Upon withdrawal from the Agreement, the Client and/or the Medical Institution, upon the Client’s request, immediately, but no later than within 30 days, returns to MediCredit, the Loan Amount and agreed Interest, for the period during which the Loan Amount was loaned to the Client.
5.4. The application for withdrawal from the Agreement referred to in the preceding paragraph must be submitted to the MediCredit e-mail address. MediCredit replies to the Client’s application for withdrawal from the Agreement immediately, but not later than within 3 (three) business days, indicating the amount of the Loan, Amount Interest, Interest calculation, and Interest for one day.
5.5. In the event that the Client withdraws from an economically connected sales contract, (service contract), concluded with the Medical Institution because the respective service was not provided or was not performed in accordance with the terms of the Agreement, the Client may refuse to fulfill his / her obligations under the Agreement.
5.6. In the event of withdrawal from the economically connected contract of sale (service contract), the costs related to the return of the item and the related risk are borne by the Medical Institution.
5.7. The Client is entitled to repay the Loan prematurely. In case of premature repayment of the Loan, the Client will repay the Loan, together with a compensation amount of 0.5% of the Loan if the Loan repayment period is up to one (1) year and 1% of the Loan if the Loan repayment period is longer than one (1) year. In case the Client wishes to pre maturely repay the Loan, the Client must immediately inform MediCredit by e-mail. MediCredit shall respond to this notification immediately, but no later than within three (3) business days, and shall indicate in its response the amount of the compensation and the basis for its calculation.
6. FINE FOR DELAY AND PAYMENT ORDER
6.1. In case Client fails to pay the Monthly Payment by the due date for Monthly Payment specified in the Payment Schedule, the Client is obliged to pay a fine of delay to the MediCredit at a rate of 0,03% per day from delayed amount, plus 8% per annum. The calculation of the amount of the fine starts on the calendar day following the due date and expires on the date of receipt of the Monthly Payment that were not paid by the due date on the MediCredit account. MediCredit has the right to demand compensation from the Client for damages exceeding the interest.
6.2. Client who has an overdue debt to MediCredit is bound to contact MediCredit before paying off the debt in order to find out the amount of fine due on a particular day. In the event that the Client has not contacted MediCredit for payment of the overdue debt, MediCredit shall, after the expiration of a period of fourteen (14) calendar days, forward to the Client a debit note indicating the outstanding amount of the monthly payment, the amount of the fine of delay and the basis for its calculation.
6.3. At the reasonable request of the Client, MediCredit may reduce the fine of delay due to be paid by the Client.
6.4. If the amount paid by the Client under this Agreement is insufficient to meet all the obligations that have become chargeable, the order of inadequate payments is as follows: in the first order, the payment is calculated in order to cover the amount owed, in the second order to cover the interest, and in the third order to cover other expenses. MediCredit has no collection costs.
7. TERMINATION OF THE AGREEMENT BY THE CREDITOR
7.1. If the Client delays payment of three (3) or more the monthly payment mentioned in the Payment Schedule, MediCredit sends the statement to the Client via e-mail agreed at the Agreement, statement by which MediCredit gives the Client an additional due date of fourteen (14) calendar days for payment of Monthly and late payment debts or an arrangement with MediCredit for payment of additional debt.
7.2. The granting of an additional due date by MediCredit does not release the Client from payment of the fine.
7.3. If the Client wishes to conclude an additional agreement with MediCredit for payment of the debt, as mentioned in clause 7.1 of the Agreement, he undertakes to respond to the MediCredit application without any delay, but no later than within three (3) business days from the moment of the submission of the application.
7.4. An additional agreement for payment of the debt is formalized as an annex to this Agreement and signed by both Parties.
7.5. If the Client does not pay the amount by the additional due date to MediCredit or the Client and MediCredit do not reach an agreement on the payment of the debt, or the Client does not properly execute the agreement on payment of the debt, MediCredit has the right to cancel the Agreement prematurely and demand immediate payment of the Loan Amount, Interest and accumulated fine of delay.
8. APPROVALS OF THE PARTIES
8.1. The Client confirms by signing the Agreement that:
8.1.1. He/she shall be fully responsible for any applications for loan submitted on his/her behalf by any means of identification and agrees that all the respective Loan Applications are considered to have been made by and for the Client.
8.1.2. Within 30 days after the debt has arisen, he/she grants MediCredit the right to transfer data related to Client’s identity (name, date of birth) and debt (the date and amount of the payment disruption) to AS Creditinfo for disclosure of payment disturbance.
8.1.3. He/she is aware of the fact that MediCredit has the right to cancel the Agreement prematurely in accordance with Clause 7 of the Agreement and if the Parties fail to reach an agreement on the payment of the debt and/or the Customer fails to pay the debt by additional due date, MediCredit has the right to appeal to the court to collect the debt.
8.1.4. He/she is aware of the fact that if the Medical Institution and/or he-/she him-/herself transfers an invoice to MediCredit for the payment of the Loan Amount under this Agreement and its annexes to the Medical Institution, the invoice to MediCredit shall contain sensitive personal data.
8.1.5. he/she grants MediCredit the right to process sensitive personal data and other personal data provided in Clause 8.1.4 in accordance with the Personal Data Protection Act and is aware of his rights as a data subject to request MediCredit to stop processing his/her personal data.
8.1.6. He/she is aware that MediCredit is processing personal data in order to assess his/her creditworthiness and to make sure that the Client is able to repay the Loan under the terms and conditions stipulated in the Agreement.
8.1.7. he/she allows MediCredit to verify his/her own creditworthiness until the full performance of the obligations arising from the Agreement has been fully completed by forwarding his/her bank statements at the request of MediCredit at the earliest opportunity, but not later than within three (3) business days from the moment the MediCredit claim was received.
8.1.8. He/she is aware of the fact that MediCredit has the right to encumber a lien against the Client until the claim is fully satisfied (until the Loan Amount is fully repaid).
8.1.9. With the submission of the Loan Application, he/she grants MediCredit the right to make queries about him-/herself from public registers and databases.
8.1.10. he/she is aware of his/her obligation to inform MediCredit within five (5) business days of any fact that worsens or may worsen his solvency and/or economic situation, difficulties encountered or arising in the performance of his obligations under the Agreement and any bankruptcy and/or enforcement proceedings against the Client. In the event of the foregoing circumstances, the Client undertakes to immediately notify the MediCredit and, upon the latter’s proposal, concludes additional agreements for repayment of the debt.
8.1.11. Submission of the Loan Application and the conclusion of the Agreement is not a result of the Client’s difficult economic situation, extraordinary need, dependency relationship, inexperience or such other circumstance.
8.1.12. He/she fully understands the content and scope of his/her obligations under the Agreement, and the conclusion of the Agreement is his/her free will, which is affiliated with neither MediCredit nor any other person.
8.1.13. He/she has read the Agreement, fully understood it and agrees with all terms of the Agreement.
8.2. MediCredit confirms by signing the Agreement that:
8.2.1. They process the Client’s personal data and the sensitive personal data disclosed to them with extreme diligence in accordance with the Personal Data Protection Act and other relevant legislation.
8.2.2. They shall not disclose any information, they have become aware of by entering into this Agreement and was provided by the Client, to the third party, except in clauses 8.1.2, 8.1.3 and 8.1.7 of the Agreement and where disclosure of data is provided for in the legislation in force.
9. FINAL PROVISIONS
9.1. The Agreement will enter into force at the moment when it is considered concluded in accordance with Clause 2.10 of the Agreement. The Agreement shall remain in force until all the Parties have fulfilled their contractual obligations.
9.2. All notices related to the Agreement shall be communicated to the Parties in a format, which can be reproduced in writing in Estonian to the postal address, e-mail address or other address specified by the Agreement, which one of the Parties has notified in writing to the other Party. While sending a message by registered mail, the message is considered to be received five (5) calendar days after the posting. While sending a message by e-mail, the message is considered to be received one (1) calendar days after the posting.
9.3. The Client is always entitled, in relation to the compliance of this Agreement with its annexes, to contact the competent supervisory authority, namely the Consumer Protection Board (www.tarbijakaitseamet.ee). National Financial Supervision Authority, in accordance with the Creditors’ and Mediators Act, shall perform the Financial Supervision Authority (www.fi.ee).
9.4. All disputes arising out of the Agreement shall be resolved out of court and by agreement of the Parties. The Client has the right to appeal to the Consumer Complaints Commission at the Consumer Protection Board in order to reach an out-of-court settlement. Disputes will be settled in the Harju County Court if the agreement is not reached.
9.5. By signing the Agreement, the Parties confirm that the data submitted to them in the Agreement is correct; the terms of the Agreement are in accordance with their will and are entitled to enter into and sign the Agreement.
10. AGREEMENT DOCUMENTS
10.1. The Agreement documents consist of the Agreement, the annexes of the Agreement and amendments of the Agreement, which may be agreed after the conclusion of the Agreement.
10.2. An integral part of this Agreement is the Payment Schedule, signed by the Client and MediCredit. By signing this Payment Schedule, the Client also confirms that he/she has read, understood and agreed with these general conditions of this Agreement.