PLATFORM TERMS OF USE


1 APPLICATION OF TERMS

1.1 This terms of use (together with the documents referred to in it) is a binding agreement between you and Vesl, for you to make use of our Platform or networks owned or controlled by us, whether as a registered user or otherwise. Use of our Platform includes but is not limited to accessing, browsing, or registering to use our Platform.

1.2 These Terms apply to your use of the Platform. By accessing and using the Platform:

  • you agree to these Terms; and
  • where your access and use is on behalf of another person (e.g. a company), you confirm that you are authorized to, and do in fact, agree to these Terms on that person’s behalf and that, by agreeing to these Terms on that person’s behalf, that person is bound by these Terms.

1.3 If you do not agree to these Terms, you are not authorized to access and use the Platform, you must immediately stop doing so.

2 CHANGES

2.1 We may change these Terms at any time by updating them on the Platform. Unless stated otherwise, any change takes effect immediately. You are responsible for ensuring you are familiar with the latest Terms. By continuing to access and use the Platform, you agree to be bound by the changed Terms. If you do not wish to accept the new Terms you should not continue to use our Platform.

2.2 We may change, suspend, discontinue, or restrict access to, the Platform without notice or liability.

These Terms were last updated on February 7, 2018.

3 DEFINITIONS

In these Terms:

Including and similar words do not imply any limit;

Loss includes loss of profits, savings, revenue or data, and any other claim, damage, loss, liability and cost, including legal costs on a solicitor and own client basis personal information means information about an identifiable, living person

Platform means http://vesltradefinance.com

Services means services, information and any other functions made available by us at on through the Platform

Terms means these terms and conditions titled Platform Terms of Use

Underlying System means any network, system, software, data or material that underlies or is connected to the Platform

User ID means a unique name and/or password allocated to you to allow you to access certain parts of the Platform

We, us, our or Vesl means Vesl Pte. Ltd.

You means you or, if clause 1.1b applies, both you and the other person on whose behalf you are acting.

4 YOUR OBLIGATIONS

4.1 You must provide true, accurate, current and complete information in your dealings with us (including when setting up an account), and must promptly update that information as required so that the information remains true, accurate, current and complete. You warrant that all information provided on our Platform for the purposes of registration or maintenance of an account or completion of other forms (if any) or in the use of any Services shall at all times be truthful, accurate, current and complete.

4.2 Your Account and Password

4.2.1 If you are given a User ID, you must keep your User ID secure and:

  • not permit any other person to use your User ID, including not disclosing or providing it to any other person; and
  • immediately notify us if you become aware of any disclosure or unauthorized use of your User ID, by sending an email to info@vesltradefinance.com.

4.2.2 You are solely responsible for your User ID and password and all actions, content, instructions carried out, posted or reflected on our Platform or in the use of our Platform under your User ID will be deemed as originating from and binding on you and agree that you will be legally responsible for all actions carried out on our Platform using your User ID.

4.2.3 Without prejudice to the foregoing sub-clauses, you agree to keep us notified at info@vesltradefinance.com if you become aware of or believe that there may be unauthorized use of your User ID or password or for some other reason where deactivation of your account may become necessary.

4.2.4 We may require you to change your User ID or terminate your use of and registration on our Platform at any time and for any reason, with or without cause, without prior notice to you without any liability or further obligation to you or any other party.

4.3 Use of our Services

4.3.1 In addition to all other terms and conditions herein, the provisions in this Clause 4.3.1 are additional specific terms and conditions governing your use of the Services.

4.3.2 Use of our Services is limited to authorised individuals that are of legal age and who have the legal capacity to enter into and form contracts under the applicable laws. You may not use the Services on our Platform even if you satisfy the aforementioned requirements if you have breached or are in breach of any provision contained in these Terms or if you have been permanently or temporarily suspended or terminated from use of any of the Services (or part thereof, as the case may be).

4.3.3 You must:

  • comply with all terms and conditions set out in the VESL Terms and Conditions when using our Services;
  • notify us of all information pertaining to the collection from and payments by counterparties of any invoice covered under any of your policies obtained through our Platform. Failure to do so shall constitute a ground for us to terminate your use of the Platform or any benefits you may receive through the use of our Platform; and
  • notify us of all claims or potential circumstances that may give rise to a claim under any of your policy obtained through our Platform. To ensure full protection under your policy, you should familiarize yourself with the provisions of your cover and the procedural requirements in relation to claims and to the notification of those claims or potential circumstances. Failure to adhere to the notification requirements, particularly in relation to the timing and deadlines as set out in the policy or other coverage document, may entitle insurers to refuse your claim. In presenting a claim, it is your responsibility to disclose all facts, which are material to the claim. False or exaggerated claims or information can result in severe consequences including denial of the claim and avoidance of the policy.

4.3.4 You acknowledge and agree that:

  • In order for you to be provided with the Services on the Platform, Vesl shall require the rights to obtain, manage and administer your credit insurance policies on your behalf, which shall include (but not be limited to):
    • handling and submission of claims.
    • implementing changes to, amending and/or cancelling such credit insurance policies with no prior notice;
    • implementing changes to, amending and/or cancelling any features of such credit insurance policies with no prior notice;
    • and by registering as a user of the Platform, you hereby appoint and authorize Vesl to do so on your behalf with respect to any applicable credit insurance policies provided to you as part of the Services on the Platform.
  • While we endeavour to provide an accurate description and information of the Services and any products or other service provided through our Platform, we do not warrant that such description or information is accurate, current or free from error;
  • you shall only access and/or use the Services for lawful purposes and in a lawful manner at all times and further agree to conduct any activity relating to the Services in good faith; and
  • parties other than Vesl may be involved in the provision of products or services in relation to the Services. Any agreement entered into for any sale, services or any such other transaction directly with such third party providers and yourself shall be an agreement entered into directly and only between such third party provider and you.

4.3.5 While Vesl may assist you with the completion of proposals, claim forms or other documents relating to the Services, Vesl does not accept responsibility for the accuracy of any such proposals, forms, documents, or any answers, statements or information provided by you, nor can Vesl sign any document on your behalf.

4.3.6 Where Vesl collects any claims payments to be paid to you in the course of providing the Services to you, these will be remitted to you in accordance with any regulatory requirements. However, Vesl will not remit claims monies to you before we have received them from any third party insurers. Vesl may charge for claims work assistance, depending on the amount and nature of the claim.

4.4 You represent, warrant and covenant to us that you shall not (and shall not allow any others to):

  • act in a way, or use or introduce anything (including any virus, worm, Trojan horse, time bomb, keystroke logger, spyware or other similar feature) that in any way compromises, or may compromise, the Platform or any Underlying System, or otherwise attempt to damage or interfere with the Platform or any Underlying System;
  • access our Platform by any other method, unless with our agreement, such other methods include scraping, deep-linking, harvesting, data mining, use of a robot or spider, automation, or any similar data gathering, extraction or monitoring method and that you shall access the Platform via standard web browsers only;
  • establish a link to our Platform except with our written permission to do so, and if you wish to do so, you may email your request to info@vesltradefinance.com;
  • use our Platform in any manner or post any content that is libellous, defamatory, indecent, vulgar, pornographic, sexually explicit, racially, culturally or ethnically offensive, harmful, harassing, threatening, abusive or which may appear to impersonate someone else;
  • use our Platform in any manner or post any content that is libellous, defamatory, indecent, vulgar, pornographic, sexually explicit, racially, culturally or ethnically offensive, harmful, harassing, threatening, abusive or which may appear to impersonate someone else;
  • use our Platform in any manner that is in breach of any regulations or applicable code(s) of practice;
  • use our Platform in any way which is unlawful, illegal or which gives rise to civil or criminal liability;
  • make our Platform or any part of it available to any third party or display, publish, copy, print, post or otherwise use our Platform and any information contained therein for the benefit of any third party or website without our prior written consent;
  • use our Platform for commercial or business purposes including, without limitation, contests, gambling, betting, pyramid schemes, sweepstakes, advertising, investments or for purposes other than expressly permitted under these Terms without our prior written consent;
  • use our Platform in a manner which will negatively affect its reputation, name and goodwill;
  • infringe any copyright or other intellectual property right of ours or of any third party or assist in any form of infringement or piracy;
  • infringe upon or violate any third party’s rights including but not limited to rights of privacy, including unauthorized disclosure of a person’s name, email address, physical address or telephone number and/or rights of publicity;
  • gain unauthorized access to our Platform, other users’ User ID, accounts, names, passwords or to use our Platform in any manner which violates or is inconsistent with these Terms;
  • modify, impair, disrupt, alter or interfere in any way with the features, functions, operations of our Platform or the rights and ability of others to use and enjoy our Platform;
  • conduct any action that may impose an unreasonable or disproportionate load on the infrastructure of our Platform;
  • reverse engineer, decompile, disassemble or otherwise attempt to discover the source code or any part thereof of our Platform; or
  • use our Platform in any manner other than that expressly permitted under these Terms;

4.5 You agree to indemnify us against all Loss we suffer or incur as a direct or indirect result of your failure to comply with these Terms, including any failure of a person who accesses and uses our Platform by using your User ID.

5 INTELLECTUAL PROPERTY

5.1 We (and our licensors) own all proprietary and intellectual property rights in the Platform (including all copyright, designs, trademarks, trade names, database, software rights, information, data, text, graphics, artwork, photographs, logos, icons, sound recordings, videos and look and feel), and the Underlying Systems. We reserve all rights to use and modify all such material and information subject to the provisions of the Privacy Policy.

5.2 You must not delete, tamper with, conceal or modify any intellectual property notice or other notices found on our Platform. You shall not, nor will you allow any third party to reproduce, modify, display, perform, publish, circulate, disseminate, broadcast, translate, decompile, disassemble, adapt or otherwise tamper with any content or structure of our Platform except with prior written approval by us.

5.3 If you print off, copy, download or otherwise use, reproduce or disseminate any part of our Platform in breach of these Terms, your right to use our Platform will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

6 DISCLAIMERS

6.1 To the extent permitted by law, we and our licensors have no liability or responsibility to you or any other person for any Loss in connection with:

  • the Platform being unavailable (in whole or in part) or performing slowly;
  • any error in, or omission from, any information made available through the Platform;
  • any exposure to viruses or other forms of interference which may damage your computer system or expose you to fraud when you access or use the Platform. To avoid doubt, you are responsible for ensuring the process by which you access and use the Platform protects you from this;
  • any site linked from the Platform. Any link on the Platform to other sites does not imply any endorsement, approval or recommendation of, or responsibility for, those sites or their contents, operations, products or operators;
  • any consequences which may arise from any delay or failure by you to notify or disclose information pertaining to the coverage and financing of the receivable(s). Failure to make such disclosure could result in the policy being rendered void, such that claims may not be paid. This duty of disclosure also applies before the start of coverage of the policy, when all material information must be disclosed to insurers to enable terms to be negotiated and the coverage to be arranged. This duty of disclosure is not limited to answering specific questions that may be asked. Any material changes which may occur or come to light after your policy has been incepted must also be notified to us and your insurers;
  • the infringement by any person of any copyright or other intellectual property rights of any third party through any form of communication on or use of our Platform;
  • any breach of these terms and conditions by end-users;
  • any transaction involving the external sites and end-users; and
  • the accuracy, currency and validity of information, materials, products and postings contained within our Platform.

6.2 We make no representation or warranty that the Platform is appropriate or available for use in all countries or that the content satisfies the laws of all countries. You are responsible for ensuring that your access to and use of the Platform is not illegal or prohibited, and for your own compliance with applicable local laws.

7 LIABILITY

7.1 To the maximum extent permitted by law:

  • you access and use the Platform at your own risk; and
  • we are not liable or responsible to you or any other person for any Loss under or in connection with these Terms, the Platform, or your access and use of (or inability to access or use) the Platform. This exclusion applies regardless of whether our liability or responsibility arises in contract, tort (including negligence), equity, breach of statutory duty, or otherwise. Provided always that nothing in these Terms of use excludes or limits our liability for death or personal injury arising from our negligence, or our fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by Singapore law.

7.2 Except to the extent permitted by law, nothing in these Terms has the effect of contracting out of the Singapore Consumer Protection (Fair Trading) (Amendment) Act 2012 or any other consumer protection law that cannot be excluded.

8 PRIVACY POLICY

8.1 By using our Platform and accepting these Terms, you are deemed to have consented to the collection, use or disclosure of personal data about yourself. We will not, as a condition of providing our Services to you, require you to consent to the collection, use or disclosure of your personal data beyond what is reasonable to provide our Services to you. Please note that we do not require your consent to use any information that is publicly available. The amount and type of personal data collected shall be limited to what is reasonably necessary for us to provide our Services and the use of our Platform to you.

The information you provide to us (including any information about the entity you represent and you provided if you register for an account) is collected and may be used for communicating with you, statistical analysis, the marketing by us of products and services to you, credit checks (if necessary), and research and development. Arranging insurance and financing or providing claims services may also involve certain disclosures of personal data to financial institutions, insurers, brokers, agents and service providers, including but not limited to consultants, market research, and quality assurance companies.

8.2 We may also collect technical information whenever you log on to, or visit the public version of our Platform. This may include information about the way users arrive at, browse through and interact with our Platform. We may collect this type of technical information through the use of cookies and other means. Cookies are alphanumeric identifiers that we transfer to your computer’s hard drive to enable our systems to recognize your browser. If you want to disable cookies, you may do so by changing the settings on your browser. However, if you do so, you may not be able to use all of the functions on the Platform. We use the technical information we collect to have a better understanding of the way people use our Platform, to improve the way it works and to personalize it to be more relevant and useful to your particular needs. We may also use this information to assist in making any advertising we display on the Platform more personalized and applicable to your interests. We may also use third party cookies on our Platform.

8.3 Any information you provide to us may be stored on the secure servers of our trusted service providers, which may be located outside Singapore. Where your personal data is transferred outside Singapore, we will take steps to ensure that your personal data continues to receive a standard of protection that is at least comparable to that provided under the PDPA, in particular, through the imposing of legally enforceable obligations or binding corporate rules with on any such overseas service providers to provide as to the same.

8.4 You have the right to request access to and correction of any of the information we hold about you. If you would like to exercise these rights, please email us at info@vesltradefinance.com.

8.5 We will observe the provisions of any data protection or privacy legislation as applicable from time to time. This includes without limitation: (i) an obligation, if any, of the provider of personal data to obtain any required consent(s) in respect of the transfer of information to the recipient by the provider or any third party relating to an identified or identifiable individual that is subject to applicable data protection, privacy or other similar laws and (ii) any obligation with respect to the use, disclosure and transfer by the recipient of personal information as necessary to carry out its obligations under this Terms.

8.6 If you make any payment transactions or receive any payments on our Platform, you may be asked for specific transaction details or information as required by the respective payment applications.

8.7 You may withdraw your consent to the use or disclosure of your information for the purposes for which it was collected, in part or in whole.

For administrative purposes, all applications for such withdrawal of consent must be made in writing to our Data Protection Officer(s). We may require you to fill in certain forms in order to verify your identity and to process your application to withdraw consent. We will notify you of any consequence of such withdrawal, for instance if any Service will be restricted to you. We shall not be responsible for any legal obligations, liabilities and/or repercussions arising out of the withdrawal of your consent.

Please note that a withdrawal of consent only prohibits the future/continued use and disclosure of the information concerned and does not obligate us to destroy such information. Retention and destruction of the information will continue to be subject to our policies stated herein and any applicable laws.

8.8 We may share information with advertisers or marketers to help promote our services or to offer joint services or to provide you with additional services. In these situations, we will not disclose any information that will personally identify you.

8.9 We do not retain your information for longer than is reasonably necessary to fulfill the purposes for which the information was collected for. We may in certain circumstances retain information for record or development purposes. In such situations, the information will be anonymized.

8.10 You may submit written requests to our Data Protection Officer(s) to obtain your personal information that has been collected or to submit any feedback or report any violations of this Privacy Policy. The contact of our Data Protection Officer(s) are as follows:


Data Protection Officer Data Protection Officer
Name Jessica J. Manipon Name Yroen B. Melgar
Mailing Address 37th floor Singapore Land Tower 50 Raffles Place Singapore 048623 Mailing Address 37th floor Singapore Land Tower 50 Raffles Place Singapore 048623
Contact Number +65 6829 7047 Contact Number +65 6829 7047
Email Address jessica@vesltradefinance.com Email Address guaya@vesltradefinance.com
Operating Hours 09:00 a.m to 06:00 p.m. Singapore time Operating Hours 09:00 a.m to 06:00 p.m. Singapore time

9 SUSPENSION AND TERMINATION

9.1 Without prejudice to any other right or remedy available to us, if we consider that you have breached these Terms or we otherwise consider it appropriate, we may immediately, and without notice and liability to you, suspend or terminate your access to the Platform (or any part of it). You agree that any termination or suspension of your access to or use of our Platform may be put into effect without prior notice, and you agree and acknowledge that we will not be liable to you or any third party for such termination or suspension.

9.2 On suspension or termination, you must immediately cease using the Platform and must not attempt to gain further access.

9.3 Upon termination of your access to or use of Platform, any provision in these Terms, which should survive such termination, whether by implication or as expressly stated by these terms, shall survive such termination.

10 GENERAL

10.1 If we need to contact you, we may do so by email or by posting a notice on the Platform. You agree that either of these aforementioned methods satisfies all legal requirements in relation to written communications.

10.2 These Terms, and any dispute relating to these Terms or the Platform, are governed by and must be interpreted in accordance with the laws of Singapore. Each party submits to the non-exclusive jurisdiction of the Courts of Singapore in relation to any dispute connected with these Terms or the Platform.

10.3 The failure to require performance of any provision shall not affect either party’s right to require performance at any time thereafter, nor shall a waiver of any breach or default of these Terms constitute a waiver of any subsequent breach or default or a waiver of the provision itself. For us to waive a right under these Terms, the waiver must be in writing.

10.4 Clauses which, by their nature, are intended to survive termination of these Terms, including clauses 4.5, 5, 6, 7, 8, 10.1, continue in force

10.5 If any part or provision of these Terms is or becomes illegal, unenforceable, or invalid, that part or provision is deemed to be modified to the extent required to remedy the illegality, unenforceability or invalidity. If a modification is not possible, the provision or part thereof must be treated for all purposes as severed from these Terms and shall not affect the validity or enforceability of any other Terms. The remainder of these Terms will continue to be binding on you.

10.6 These Terms set out everything agreed by the parties relating to your use of the Platform and supersede and cancel anything discussed, exchanged or agreed prior to you agreeing to these Terms. The parties have not relied on any representation, warranty or agreement relating to the Platform that is not expressly set out in the Terms, and no such representation, warranty or agreement has any effect from the date you agreed to these Terms.

10.7 Any rights granted to you under these Terms shall not be transferred or assigned by you but may be freely assigned or transferred by us.