POLICY, TERMS, AND CONDITIONS FOR FREDVIC LENDLAB. 1. Introduction Welcome to Fredvic Lendlab ("we," "our," or "us"). These Terms and Conditions ("Terms") govern the provision of secured loan services using collateral, including the loan application, collateral valuation, loan disbursement, repayment process, and recovery in case of default. By applying for or using our services, you agree to comply with these Terms and Conditions. If you do not agree, you must refrain from using our services. 2. Definitions • "Secured Loan": A loan provided by Fredvic Lendlab that is backed by collateral provided by the borrower. • "Borrower": The individual or entity applying for or receiving a loan by pledging collateral. • "Collateral": Assets (e.g., property, vehicles, jewelry, stocks, or other valuables) pledged by the borrower to secure a loan. • "Loan Agreement": A legally binding document outlining the terms of the loan, including repayment terms, interest rates, and consequences of default. • "Default": The borrower’s failure to meet repayment obligations as defined in the loan agreement. 3. Eligibility Criteria To use our services and apply for a loan, you must: • Be at least 18 years old (or the legal age of majority in your jurisdiction). • Provide valid identification and proof of ownership of the collateral. • Provide accurate and truthful information during the application process. • Meet the credit assessment and collateral valuation criteria determined by Fredvic Lendlab. We reserve the right to approve or reject any loan application at our sole discretion. 4. Loan Application and Collateral Assessment 1. Loan Application Process: o Borrowers must provide all required documentation, including proof of identity, income, and ownership of the collateral. o Incomplete or fraudulent applications will result in rejection. 2. Collateral Assessment: o Collateral must meet our acceptance criteria (e.g., type, condition, value, and ownership status). o We will evaluate the collateral and determine its market value. The loan amount will depend on the assessed value of the collateral. o Borrowers agree to allow us to inspect and appraise the collateral either physically or through other methods. 3. Ownership Verification: o The borrower must prove full legal ownership of the collateral. o The collateral must be free of encumbrances, liens, or claims unless otherwise agreed upon. 5. Loan Terms 1. Loan Amount: o The loan amount will be a percentage of the assessed market value of the collateral (e.g., 60%-80%). 2. Interest Rate: o The interest rate on the loan is specified in the loan agreement and may be fixed or variable, depending on the loan product. 3. Repayment Period: o The repayment terms will be outlined in the loan agreement. Borrowers must adhere to the agreed repayment schedule. 4. Fees and Charges: o Borrowers may be charged additional fees, including but not limited to: Loan processing fees Collateral appraisal fees Late payment penalties Storage fees (if applicable) 6. Collateral Storage and Custody 1. Custody: o We may retain custody of the collateral (e.g., physical storage for items like jewelry or vehicles) until the loan is fully repaid. Collateral will be stored securely. 2. Borrower Responsibility: o Borrowers must ensure that the collateral is free of any legal disputes, liens, or encumbrances at the time of pledge. 3. Insurance: o Collateral may be insured during the loan term, either by the borrower or by us. If we insure the collateral, the cost of insurance may be deducted from the loan amount or included in the loan agreement. 7. Repayment Terms 1. Repayment Schedule: o Borrowers must repay the loan according to the agreed repayment schedule, including principal, interest, and any applicable fees. 2. Prepayment: o Borrowers may repay the loan early without penalty unless otherwise stated in the loan agreement. 3. Payment Methods: o Payments can be made through approved methods such as bank transfers, direct debit, or other specified channels. 8. Default and Recovery Process 1. Default: o A borrower is considered in default if they fail to make payments as per the agreed schedule or violate the terms of the loan agreement. 2. Consequences of Default: o We reserve the right to: Notify the borrower of the default and request immediate repayment. Sell or liquidate the collateral to recover the outstanding loan amount, including interest and fees. Report the default to credit bureaus or other relevant authorities, which may affect the borrower’s credit score. Pursue legal action to recover any remaining balance. 3. Collateral Sale: o If the collateral is sold, any excess proceeds after deducting the outstanding loan amount, interest, and fees will be refunded to the borrower. 9. Privacy Policy We are committed to protecting your personal information. By applying for a loan, you consent to the collection, use, and sharing of your personal data as outlined in our Privacy Policy. This includes information related to the loan application, collateral, and repayment history. We may share your information with third parties, such as credit bureaus, legal authorities, or recovery agents, as necessary to provide our services or recover outstanding debts. 10. Borrower Obligations As a borrower, you agree to: • Provide accurate and truthful information during the loan application and collateral assessment process. • Make repayments according to the agreed-upon terms. • Notify us promptly of any changes in your contact details or financial circumstances. • Cooperate during the recovery process in case of default. 11. Limitation of Liability Fredvic Lendlab shall not be liable for: • Any indirect, incidental, or consequential damages arising from the use of our services. • Loss or damage to collateral due to events beyond our reasonable control, such as natural disasters or theft (if uninsured). • Losses incurred by the borrower due to the sale or liquidation of collateral in case of default. 12. Amendments to Terms We reserve the right to update or modify these Terms and Conditions at any time. Borrowers will be notified of significant changes, and continued use of our services after such changes constitutes acceptance of the updated terms. 13. Complaints and Dispute Resolution If you have any complaints or disputes regarding our services, please contact us at: • Email: fredviclendlab@gmail.com • Phone: • Address: We will make every effort to resolve disputes amicably. If no resolution is reached, disputes may be referred to mediation, arbitration, or the appropriate courts in [Your Jurisdiction]. 14. Governing Law These Terms and Conditions are governed by the laws of [Your Jurisdiction]. Any disputes shall be resolved exclusively in the courts of [Your Jurisdiction]. 15. Contact Us For more information or any clarifications regarding these Terms and Conditions, please contact us at: • Email: fredviclendlab@gmail.com