The Money Platform Service Terms

  1. Introduction

    1. These terms and conditions (“the Agreement”) governs the operation and use of the peer-to-peer lending platform for short term loans operated by Gracombex Ltd, trading as The Money Platform (referred to here as “The Money Platform”, "we", "us" and "our") at https://themoneyplatform.com (“Platform”) by any person whose application to use the Platform we accept ("you", "your"). Capitalised words that are not defined where they first appear shall have the meaning given to them in Clause 15.
    2. By clicking “I accept” you acknowledge that you have read and understood this Agreement, which includes our Conflicts Policy, Risk Statement, Privacy Policy and Cookie Policy; and the the standard loan conditions published by us from time to time (“Loan Conditions”). This Agreement is in the English language and we will only write and communicate with you in English. The terms of this Agreement may be changed in accordance with Clause 8.
    3. This Agreement also governs the activities of:
      1. the Payment Service Provider, who will supply you with a payment service to enable you to transfer and/or receive funds in connection with your activities on the Platform under the terms of the Payment Services Agreement agreed separately between you and the Payment Service Provider (a copy of which is also available here); and
      2. any Collections Agency appointed under any Loan Contract to recover funds owed under that Loan Contract,

      but we and each of the other organisations mentioned above are each acting as independent contractors and nothing in this Agreement shall create any partnership, agency, employee or joint venture relationship between us and/or any other of these organisations.

    4. The Platform operates by:
      1. matching offers to lend money via the Platform (“Offers”) made by individuals registered by us for that purpose (“Lenders”) under Clause 4 of this Agreement with applications to borrow money via the Platform (“Applications”) made by other individuals registered by us for that purpose (“Borrowers”) under Clause 5. The matching of an Offer with an Application produces a loan contract that incorporates the financial terms and the Loan Conditions (“Loan Contract”), which takes effect when it is electronically signed by the Borrower in accordance with instructions on the Platform.
      2. recording the repayment(s) made by the Borrower under each Loan Contract (“Repayment(s)”) and crediting the principal and interest to each Lender and any charges due to us and the persons to whom they are due and payable, while the actual funds are handled by the Payment Service Provider in accordance with the Payment Services Agreement and the instructions given to it by each Borrower or Lender, as the case may be (also referred to as a “Client”).
      3. each Lender sub-contracting to us and the Collections Agency the collection of any missed Repayment(s) due from Borrowers.
    5. Each time a Loan Contract is formed, details of the amount lent or borrowed will be recorded in each Lender and Borrower’s Money Platform Account. The name of the Lender and Borrower will be shown in each Loan Contract (and in the Borrower’s summary of all the Loan Contracts entered into by him or her (“Loan Summary”)), care of Money Platform, and the identity of each Client will not otherwise be disclosed except where necessary to enforce any Loan Contract, as permitted in our Privacy Policy or Cookie Policy, or to comply with Applicable Law.
    6. Gracombex Ltd is a company incorporated in England & Wales under company registration number 9413521 having its registered office at 62 Wilson Street, London, EC2A 2BU authorised and registered by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 716455; registered with the Office of the Data Commissioner (registration number ZA099774).
  2. Eligibility and registration

    1. To register with us as a Lender, you must:
      1. be an individual, at least 18 years old, living in the United Kingdom ("UK"), who is not lending via the Platform in the course of any business; and
      2. have a payment account in your own name with a financial institution authorised to offer payment services in the UK (“Nominated Payment Account”) ; and
      3. satisfy our identity verification, anti-fraud and credit checks.
    2. To register with us as a Borrower, you must:
      1. be an individual, at least 20 years old, living in the UK;
      2. have a Nominated Payment Account; and
      3. satisfy our identity verification, anti-fraud and credit checks.
    3. We may decline to register any person to use the Platform for any reason in our sole and absolute discretion.
  3. Money Platform Account and Access Codes

    1. If we approve your application for registration, we will:
      1. set up a data account in our systems that is used to record your transactions on the Platform, the balance of any funds made available by you to lend in accordance with Clause 4 and certain information about you and the Platform (“Money Platform Account”); and
      2. issue and/or activate any secret codes required by you to access your Money Platform Account (“Access Codes”).
    2. We will do all that we reasonably can to prevent unauthorised access to Money Platform Account. To lend or borrow through the Platform you must log on to Money Platform Account using your Access Codes. So long as the correct Access Codes are entered, we will assume that you are the person giving instructions and you will be liable for the activity on your Money Platform Account, subject to Clause 16.4. You must therefore keep your Access Codes secret and avoid storing them in any way that enables anyone else to impersonate you. If you disclose your Access Codes to any third person, including any employee or adviser whom you authorise to access your Money Platform Account, you are also responsible and liable for any resulting access, use, misuse or disclosure by that person.
    3. You must tell us as soon as possible if you think that someone else knows your Access Codes or can impersonate you in dealing with us or on the Platform. Otherwise, you will be responsible for any instruction which we receive and act on, even if it was not given by you, and we will not be responsible for any unauthorised access to your Money Platform Account or the information in it.
    4. We can refuse to act on any instruction that we reasonably believe is unclear, not given by you or might result in a breach of Applicable Law.
    5. We will issue annual Money Platform Account statements to Lenders electronically.
  4. Lending on the Platform

    1. Transferring Funds: In order to lend your money to Borrowers, you must open a Money Platform Account as a Lender and then transfer the funds to the segregated bank account maintained by the Payment Service Provider separately from its own funds (“Client Funds Account”) by debit card from your Nominated Payment Account. Each funds transfer will also be shown in your Money Platform Account. The funds transfer is complete when recorded in your Money Platform Account. Any Offer in relation to those funds on the Platform is separate from the earlier transfer of those funds.
    2. Making Offers: If you have funds showing in your Money Platform Account as available to lend, you may make an Offer by following the instructions in your Money Platform Account. This will involve you choosing the rate of return, the duration of Loan Contracts you are prepared to enter into, how much of your money may go to any one Borrower and making certain other choices). By making an Offer, you are offering to enter into a Loan Contract with a Borrower whose Application matches the terms of your Offer.
    3. Withdrawing and changing Offers: You may withdraw or change an Offer at any time before it either expires in accordance with its terms or is matched, by following the instructions in your Money Platform Account. Each Offer will remain open until it expires in accordance with its terms or it is matched or you withdraw it.
    4. Loan Contracts: Each Loan Contract will be formed automatically when your Offer is matched with a Borrower’s Application, but will be conditional upon us carrying out certain additional checks on the Borrower in accordance with Clause 5.1.
    5. Releasing funds to the Borrower: You hereby instruct the Payment Service Provider in accordance with the Payment Services Agreement to deduct and pay from the Client Funds Account the funds that are due and payable to the Borrower under each Loan Contract, net of any amounts specified in the Loan Contract as being payable by the Borrower to us or any third party which you instruct the Payment Service Provider to deduct and pay to us or the relevant third party.
    6. Receiving Repayment(s): The Borrower must pay the total amount payable under the Loan Contract by paying the Repayment on the Repayment Date specified, by card payment in accordance with the Payment Services Agreement to the Client Funds Account. Each Repayment will be used to pay the following amounts due and payable under the Loan Contract:
      1. first to pay to us a fee equivalent to 35% of the interest payable under the Loan Contract to cover the set-up and administration of each Loan Contract entered into by that Borrower at or about the same time (“Loan Administration Fee”);
      2. then towards the principal amount;
      3. then to pay the interest; and
      4. then towards any other fees, charges, costs or expenses due to us or any third party.
    7. Withdrawing Surplus Funds: You may either instruct the Payment Service Provider to pay any funds held on your behalf in the Client Funds Account, and showing as available in your Money Platform Account and not reserved to any current Offer or Loan Contract, to your Nominated Payment Account or re-Offer those funds, by following the instructions in your Money Platform Account.
  5. Borrowing on the Platform

    1. Making an Application: To make an Application you must open a Money Platform Account as a Borrower, then log-in and follow the relevant instructions. This will involve specifying how much you wish to borrow, for how long, registering a debit card with the Payment Service Provider and giving the authority to make the Repayment(s) that will be due if your Application is successful, as well as providing certain other Data for this purpose. If your Application is not matched it will be void and no further attempt will be made to match it. If your Application is matched, you may be provided with a formal quote, which you may accept by electronically signing the Loan Contract(s) that make up the total amount you have applied to borrow, by following the instructions in your Money Platform Account. By making an Application, you agree:
      1. to accept the Offer(s) matched with your Application up to the total amount you apply to borrow;
      2. each Loan Contract incorporates the Loan Conditions;
      3. all your Loan Contracts will be administered as if they were a single agreement (so you will only need to make one payment to cover each set of Repayments due under your Loan Contracts, for example);
      4. that you hereby instruct the Payment Service Provider in accordance with the Payment Services Agreement to pay the fees and charges specified in the Loan Contract, including the Loan Administration Fee;
      5. to provide any information we ask you for in order to comply with Applicable Law (if any information you give us is inaccurate or misleading, this will be reported to the relevant credit reference and anti-fraud agencies and the Loan Contract will be void); and
      6. that we may check your credit reference and other information you give us to assess your creditworthiness and your ability to afford the Repayment(s) due under the Loan Contract. Please note that the credit reference agencies link together the records of you and anyone that you have stated to be a financial associate (e.g. someone with whom you have a joint credit account), including previous and subsequent names of parties to the account. Links between financial associates will remain on your (and their) credit reference files until such time as you or they successfully file for a ‘disassociation’ with the credit reference agencies. When assessing the affordability of your Repayment(s), we may take into account information in your credit reference about your financial associates.
      7. that in the event of you not being successful in your loan application, we may pass on your details to another loan provider. Gracombex Ltd accepts no liability for the relationship between you and any subsequent loan provider.
    2. Payment of the loan amount to you: Once you have signed your Loan Contract(s) and all the checks have been satisfied, the Payment Service Provider will process your Lender(s) instructions under Clause 4.5 of this Agreement to deduct and pay from the Client Funds Account the funds that are due and payable to you under your Loan Contract(s).
  6. Administration of each Loan Contract

    1. Payment Service: you hereby instruct the Payment Service Provider in accordance with the Payment Services Agreement to allow us to debit the debit card that you registered with the Payment Service Provider using the continuous payment authority you agreed at the time of registering the card (subject to the terms you agreed at that time) for the Repayment(s) due under your Loan Contract. Each Repayment shall be paid to the Client Funds Account in favour of the Lender net of any amounts specified in the Loan Contract as being payable by you to us or any third party which you also instruct the Payment Service Provider to deduct and pay to us or the relevant third party.
    2. Missed Repayment(s): If you miss a Repayment, or you believe you cannot afford to make a Repayment, you should contact The Money Platform as soon as possible by email to helpdesk@themoneyplatform.com. Within 1 (one) business day, The Money Platform will:
      1. explain the procedures we will apply and your options for meeting your repayment obligations under the Loan Contract;
      2. 6.2.2. tell you if your account is being passed to the Collections Agency.
    3. Communications with Lenders: Only Money Platform will communicate with you about your Money Platform Account, including your Offer(s) and your Loan Contracts.
    4. Communications with Borrowers: Only Money Platform will communicate with you about your Money Platform Account, your Application and your Loan Contract(s), unless you miss a Repayment, in which case you may also be contacted by:
      1. the Collections Agency, the Payment Service Provider; or
      2. in the event that Money Platform ceases to operate or a back-up arrangements are activated, an administrator or other representative(s) of the Lender(s) under your Loan Contract(s).
      You should tell us or them (as the case may be) if and when your circumstances change in a way that might adversely affect your ability to make any Repayment(s). If communications between you and us or any such other organisation about missed Repayment(s) ceases, the credit reference agencies will be informed and this may have serious consequences for your ability to get credit in the future.
    5. Early Repayment: You may make any Repayment(s) early under the Loan Contracts free of any charge, except for interest payable to the date of repayment and the loan set-up fee, by following the instructions in your The Money Platform Account please email us at helpdesk@themoneyplatform.com.
    6. Events of default, bankruptcy: If one of the following events occurs (each a “Default”):
      1. failure to make a Repayment on the Repayment Date; or
      2. expiry of any statutory Notice of Default that may be required;
      3. we discover that you have lied in a way which affects the decision to allow you to register or borrow on the Platform; or
      4. you enter into a terminal arrangement in relation to any of the Loan Contracts, die or become bankrupt or the subject of a Debt Relief Order,

      in which case we will give notice of that event to the Lender via their Money Platform Account and we seek to recover the Payment Service Provider to pay that amount from the Client Funds Account to the Lender’s Nominated Payment Account, subject to deduction of the costs of recovery incurred by The Money Platform and/or the Collections Agency (if they have not been paid by the Borrower) which shall be apportioned according to the proportion that each Loan Contract represented to the original total loan amount borrowed by the Borrower.
    7. No Assignment of Loan Contracts: No party is entitled to assign, transfer or otherwise dispose of that party’s rights or obligations under a Loan Contract.
  7. Fees and Charges

    1. Each Borrower shall pay to us the Loan Administration Fee, which shall be deducted by us from the Repayment(s) made under the relevant Loan Contract(s) as specified in Clause 4.6 of this Agreement and each Loan Contract, in the order specified.
    2. You are also responsible for any related telecommunications charges, digital television subscription or other charges for the time you spend accessing the Platform via the Internet or any wireless, television or other relevant network.
  8. Amendments to this Agreement

    1. We may change the terms of this Agreement from time to time in response to:
      1. Client feedback and suggestions;
      2. changes imposed by third party suppliers or the decisions or orders of courts, the Financial Ombudsman Service, the Financial Conduct Authority or other authorities; and/or
      3. the need to improve or correct problems in the operation Platform or changes to Applicable Law. We will summarise any such changes at the top of this Agreement.
    2. We will try to give 30 days' notice of when changes take effect, by email and/or in your Money Platform Account, except where changes do not materially adversely affect any Clients or are beneficial. If you continue to use the Platform after the time we state the changes will take effect, you will have accepted the changes.
  9. Termination

    1. Your right to terminate: Whether you are a Lender or a Borrower, so long as all your Loan Contracts have been repaid, you may terminate your Money Platform Account by email to helpdesk@themoneyplatform.com. It is not practicable for Clients to terminate before their Loan Contracts have all been repaid, as we would be unable to perform our obligations to administer the relevant Loan Contracts in those circumstances.
    2. Our right to terminate: We may terminate or suspend your Money Platform Account immediately and without notice if:
      1. we become aware or reasonably suspect that have lied to us or that you may are engaged in any fraud or illegal activity;
      2. we become aware or reasonably suspect that may be the victim of any fraudulent activity, in which case we will notify you of any steps you may be able to take to enable us to restore access to our Money Platform Account, to the extent that we are permitted to do so under Applicable Law;
      3. you materially breach the terms of this Agreement and fail to remedy that breach within 30 days after receiving a notice from us to do so, die, become bankrupt or make a voluntary arrangement with your creditors.

      Termination will not affect your obligation to repay any amounts that you have borrowed under any Loan Contract(s).

    3. Following termination: In the event that your Money Platform Account is terminated:
      1. you hereby instruct the Payment Service Provider in accordance with the Payment Services Agreement to send any funds that it holds on your behalf in the Client Funds Account to your Nominated Payment Account, or by cheque to your last known place of residence;
      2. we will provide you with limited access to your Money Platform Account for a period of 7 days to download any of your Client Content or Data relating to your Loan Contracts, after which your right to access your Money Platform Account and the Platform will cease;
      3. if you are a Lender, we will provide a final statements of interest earned by you during the then current UK personal tax year;
      4. we and the third parties mentioned in Clause 1 will continue to maintain records related to you and your Money Platform Account to the extent necessary to recover any unpaid amounts under any of your Loan Contract(s) and otherwise to comply with Applicable Law.
  10. Your Client Content and Use of the Platform

    1. You represent, warrant and undertake that none of your Client Content will violate or infringe upon the rights of any third party, including Intellectual Property Rights; or contain libellous, defamatory or otherwise unlawful material. In addition, you undertake not to use the Platform or any part of The Money Platform web site(s), blog or discussion board(s) to:
      1. harvest or collect email addresses or other financial, personal or contact Data of Clients or other users from the Platform by electronic or other means for the purposes of sending unsolicited communications or inviting any person to lend or borrow outside the Platform;
      2. use the Platform in any unlawful manner or in any other manner that could damage, disable, overload or impair the Platform or the servers on which it is hosted;
      3. use automated scripts to collect Data from or otherwise interact with the Platform;
      4. upload, post, publish, display, transmit, share, store or otherwise make available on the Platform any Data that we may deem:
        • to be misleading, harmful, threatening, unlawful, libellous, defamatory, infringing of any intellectual property rights, abusive, inflammatory, harassing, vulgar, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or racially, ethnically or otherwise objectionable;
        • to contain software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;
        • to be unsolicited or unauthorised advertising, solicitations, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of solicitation;
        • to be the personal Data of any third party, including, without limitation, addresses, phone numbers, email addresses, or other identifiers;
        • to be an attempt to promote or market any goods or services for your own financial benefit;
      5. register on the Platform more than once or register on behalf of an individual other than yourself, or register on behalf of any entity without that entity's prior written authorisation;
      6. impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age, your financial employment or personal circumstances or your affiliation with any person or entity;
      7. use or attempt to use another's account, service or system without authorisation from us, or create a false identity on the Platform.
      8. solicit personal Data from anyone under 18 or solicit passwords or personally identifying Data for commercial or unlawful purposes;
      9. invite any person to lend or borrow money outside the Platform or to transact on the basis of any change to this Agreement, the Loan Conditions or any other terms or conditions contained in the Platform (other than a change agreed with Money Platform).
    2. You are solely responsible for your Client Content. You may not post, transmit, or share Client Content on the Platform that you did not create or that you do not have permission to display, publish or post. You understand and agree that we may, but are not obliged to, review the Platform and may delete or remove (without notice) any Money Platform Data or Client Content in our sole discretion, for any reason or no reason, including without limitation Client Content that in our own absolute discretion violates any provision(s) of these this Agreement. You are solely responsible at your sole cost and expense for creating backup copies and replacing any Client Content.
    3. When you post your Client Content, you authorise and direct us to make such copies thereof as we deem necessary in order to facilitate the publication, display and storage of the Client Content on the Platform. By posting Client Content to any part of the Platform, you automatically grant, and you represent and warrant that you have the right to grant, to us an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part) and distribute such Client Content for any purpose on or in connection with the Platform, Money Platform web site(s), blog or discussion board(s) or the promotion thereof, to prepare derivative works of, or incorporate into other works, such Client Content, and to grant and authorise sublicenses of the foregoing. You may remove your Client Content from the Platform at any time. If you choose to remove your Client Content, the license granted above will automatically expire, however you acknowledge that we may retain archived copies of your Client Content.
    4. You agree to indemnify and hold each other Client, us, our subsidiaries and affiliates, and each of our directors, officers, agents, contractors, partners and employees, harmless from and against any loss, liability, claim, demand, damages, costs and expenses, including reasonable attorney's fees, arising out of or in connection with any of your Client Content, your use of the Platform, your conduct in connection with the Platform or with other users of the Platform, or any violation of these this Agreement or of any law or the rights of any third party.
    5. You are solely responsible for your interactions with other Clients. We reserve the right, but have no obligation, to monitor disputes between you and other Clients and users.
  11. Use of Money Platform Data and the Platform

    1. Money Platform Data and all the Intellectual Property Rights in The Money Platform Data is either owned by us or our licensors (for example, credit reference agencies). Any use of Money Platform Data otherwise than in accordance with this Agreement entitles us to cancel your Money Platform Account. You may:
      1. display Money Platform Data on a computer screen or take a reasonable number of copies for your records or store The Money Platform Data in electronic form on your computer, provided that such copies and any stored Money Platform Data is only used for your own personal and non-commercial purposes;
      2. not reproduce, modify or in any other way commercially exploit any of The Money Platform Data, including without our prior written consent (which may be withheld for any reason):
        • redistributing any of the Money Platform Data;
        • removing any copyright, trade mark or other notice included with the Money Platform Data;
        • creating a database in electronic or structured manual form by systematically downloading and storing all or any such Data.
    2. The Money Platform Data may include personal credit scores, output from educational tools (including credit calculators designed to allow you to consider "what if" scenarios using pricing and other Data). None of this or any other aspect of The Money Platform Data will provide more than indicative results, depending on the Data you have supplied, and cannot be relied upon as a guarantee of any particular result.
    3. We will use reasonable skill and care in the supply of The Money Platform Data to you. Due to the number of third party sources from which The Money Platform Data is obtained and the nature of distribution of Data via the Internet, we cannot guarantee, warrant or represent that:
      1. The Money Platform Data is complete, accurate, up-to-date or error-free;
      2. the Platform or web site is virus free or that their operation will be continuous, uninterrupted or error-free.
    4. The Platform contains links to other Internet sites and telephone numbers for services provided by others. The availability of such third party sites, services or material does not constitute any form of recommendation, advice, endorsement or publication of any such third party sites, services or material and we are not responsible for their availability or Data.
    5. None of the Data on the Platform, and in particular, neither the Client Content nor The Money Platform Data, can be relied upon by you or any third party as a guarantee of any particular result, nor does any such Data constitute any form of advice, recommendation or endorsement by us, and it is not intended to be relied upon by you as the basis for making (or refraining from making) any specific decision.
    6. You download the Data on the Platform, and in particular the Client Content and The Money Platform Data, at your own risk and discretion and you are exclusively responsible for any damage to your computer or any lost Data that results from you downloading any such Data. You should therefore exercise caution in the use and downloading of any such Data or materials and use industry-recognised software to detect and disinfect viruses.
    7. We reserve the right to change any and all Data, software and other items used or contained in the Platform offered through the Platform at any time without notice.
    8. You may not include a link to the Platform in any other site, computer or network without our prior written consent and licence.
  12. Limits on Liability

    1. We agree to:
      1. act fairly, reasonably and responsibly in our dealings with you;
      2. not discriminate against any Client because of their race, sex, disability, ethnic background or sexuality; and
      3. correct mistakes and handle complaints promptly in accordance with any agreed time periods.
    2. Except as otherwise expressly stated in this Agreement, we shall only be liable for foreseeable loss or damage arising directly out of our own breach of this Agreement, negligence or wilful misconduct.
    3. We shall not be liable for any loss or damage arising out of or in connection with:
      1. any error or inaccuracy in the Data entered by you or any other Client;
      2. your, or any third party’s, any negligence, breach of contract, misrepresentation or wilful misconduct in relation to the Loan Contracts or other uses of the Platform.
    4. We will be responsible for any loss or damage to you resulting directly from any unauthorised access to Money Platform Account, unless you breach the other provsions of Clause 3, and subject to the limits on our liability under this Clause 12).
    5. We are not responsible or liable in any manner for any Client Content or any Data posted on the Platform by third parties. Although we provide rules for user conduct and postings, we do not control and are not responsible for what Clients or other users post, display, upload, publish transmit or share on the Platform and are not responsible for any Data that breaches or is of a kind that might breach any provision of these this Agreement. We are not responsible for the conduct, whether online or offline, of any Client or other user of the Platform.
    6. THE PLATFORM, THE CLIENT CONTENT, THE GRACOMBEX DATA AND ALL OTHER DATA ON THE PLATFORM, GRACOMBEX WEB SITE(S), GRACOMBEX BLOG AND DISCUSSION BOARDS ARE PROVIDED "AS-IS" AND WE DISCLAIM ANY AND ALL REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.
    7. We shall not be liable for any indirect, special or consequential loss or damage, including loss or damage arising out of or in connection with lost Data, lost profits, damage to goodwill or business interruption, any delay or failure to perform our obligations under this Agreement due to circumstances beyond our own reasonable control.
    8. Nothing in this Agreement shall exclude or limit the liability of either you or us for death or personal injury caused by our own negligent or fraudulent acts or omissions.
  13. Complaints Handling Process

    1. If you want to make a complaint about the Loan Contract or Money Platform you can email helpdesk@themoneyplatform.com with brief details of your complaint and your account reference. Money Platform will acknowledge your complaint within one business day. Money Platform will then investigate and send you an initial response. This should take no longer than five business days. If you are not satisfied by Money Platform’s response, you may contact the Client Services Manager who will respond by email within a further five business days.
    2. If you are not satisfied with the response from the Client Services Manager you can email helpdesk@themoneyplatform.com, enclosing responses already given to you. Your email will then be referred to the Chief Executive Officer, who will respond within a final five business days.
    3. Within four weeks after receiving a complaint, we will send you either a final response or a response which explains why we are not in a position to resolve the complaint and/or indicates when we will make further contact. Complaints that cannot be settled within eight weeks of the date of complaint may ultimately be referred to the Financial Ombudsman Service. You also have the right to make a complaint directly to the Financial Ombudsman Service.
    4. If you wish to escalate your complaint to the Financial Ombudsman, you can contact them using the following contact details:

      Financial Ombudsman Service
      Exchange Tower
      London
      E14 9SR
      Free phone: 0800 023 4567
      Low-cost phone: 0300 123 9123
      Email : complaint.info@financial-ombudsman.org.uk
      Website: www.financial-ombudsman.org.uk
  14. General

    1. Notices You agree that all Data, notices and other documents that we are entitled or obliged to send you may be delivered in writing electronically to you in your Money Platform Account, or may be sent by post to your last known postal address. If we send notices to your Money Platform Account, you will also receive by email to your email address specified in Money Platform Account a prompt to log-in to your Money Platform Account to see the notice.
    2. Records The records kept by us in the Platform shall be conclusive of the facts and matters they purport to record.
    3. Our Trademarks "GRACOMBEX", and related design(s), are trademarks of Money Platform Ltd.
    4. Severability If any part of this Agreement that is not fundamental is found to be illegal or unenforceable, such finding shall not affect the validity or enforceability of the remainder of this Agreement.
    5. Waiver Any decision by a party not to exercise its rights under this Agreement at any time will not prevent that party from doing so later.
    6. Choice of Law This Agreement is governed by English law and any disputes shall be referred to the exclusive jurisdiction of the courts of the United Kingdom.
    7. Taxes If any taxes apply to you as a result of entering into this Agreement or any Loan Contract you must account for them yourself. The amount of income tax payable is dependent on your individual circumstances and may be subject to change in the future.
  15. Defined Terms

    In this Agreement the following words have the following meanings:

    “Applicable Law”

    means all laws, regulations, rules and regulatory guidance applicable to the activities of the organisations described in Clause 1, the operation of the Platform, your activities on the Platform and/or the Loan Contracts;

    "Collections Agency"

    means any duly authorised collections agency as may be appointed at any time under the terms of the Loan Contract;

    "Client Content"

    means Data that a Client uploads, publishes or displays on or through the Platform, Money Platform web site(s) or Money Platform's blog or discussion boards, or transmits to or shares with other Clients;

    “Data”

    means any data or information in any form, including text, numerics and still and moving images;

    “Intellectual Property Rights”

    means patents, rights to inventions, copyright and related rights, trade marks, business names and domain names, rights in get-up, goodwill and the right to sue for passing off, rights in designs, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how), and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world.

    "Money Platform Data"

    means all Data delivered to you by us during your use of the Platform, and all copyright, database rights and all other Intellectual Property Rights in such Data.

    “Payment Service Provider”

    means MangoPay SA, a limited liability company incorporated in Luxembourg, with registered offices at 59 Boulevard Royal, L-2449 Luxembourg, listed under Number B173459 on the Luxembourg Trade and Company Register, approved as an Electronic Money institution by the Luxembourg Financial Sector Regulator (“CSSF”), trading as “MangoPay”;