Trade Online Group TERMS OF BUSINESS FOR PEER-TO-PEER LENDERS

These Terms of Business (“Terms”) form a binding contract between you and Trade Online Group (“Trade Online Group “, “we” or “us”).

The meanings of certain terms and expressions are set out in clause 16 below.

Application and Scope

These Terms set out the basis upon which arrange for you to lend money through peer-to-peer (P2P) lending platforms.
The provision of our services pursuant to these terms is introductory only and not subject to regulation and, accordingly, Trade Online Group does not owe you obligations pursuant to the rules of the Financial Conduct Authority. You will, however, become a client of the firm operating the P2P platform through which we arrange for you to lend. Firms operating a P2P platform are subject to regulation by the Financial Conduct Authority and will be entitled to the corresponding regulatory protections through your relationship with that firm.

Commencement

These Terms shall commence on the date we first accept an application for investment which you place with us.
These Terms form a binding contract between us and you, and by submitting an application to invest with us, you acknowledge you have read, understood and agree to these Terms.

Services

Trade Online Group will provide the following services (the “Services”) to you:

providing general information about the P2P lending environment

providing information about the functionality of and services offered on specific P2P platforms (for the avoidance of doubt, we will not advise you on the merits of entering into or selling a particular P2P loan offered through that P2P platform);
assistance with account opening;

assistance with completion of investment orders and operating your electronic account on the P2P platform to transmit your orders to the P2P platform operator, which will enter into P2P loan agreements on your behalf;

receiving communications in respect of the account, passing these to you, providing account details on request and seeking your instructions;

instructing the P2P platform operator to make payments from your account to give effect to your instructions and the provisions of these Terms.

You will become a client of the P2P platform operator and become directly subject to its terms and conditions. Your money and investments shall be held directly pursuant to the P2P platform operator’s terms and conditions, and we will not be responsible for their safekeeping. You do, however, authorise us to have electronic access to view your P2P account, to pass on your investment instructions and to direct the P2P platform operator to pay our fees out of your P2P account.

Assessment of your investment understanding

Trade Online Group will not provide investment or tax advice to you or advise on the suitability of investing in a P2P investment.
We will ask you questions about your knowledge and understanding to help you ascertain whether P2P investments are an appropriate form of investment for you, but it is your sole responsibility to use the results of this assessment to determine whether you have the appropriate level of understanding before proceeding to invest. If you are in any doubt about whether it is right to invest, you should seek advice from a firm that specialises in advising on P2P investments (see www.unbiased.co.uk).

Fees

Our fees for providing the Services shall be set out and shall be payable in arrears on the first business day of each calendar month. [Unless otherwise indicated, our fees shall be quoted exclusive of VAT, if applicable.]

We shall instruct the P2P platform operator to deduct our fees, when due, from cash balances in your account. The Set-up Fee shall be deducted from your subscription amount and Administration Fees shall ordinarily be deducted from interest payments received. Where you sell investments so that there will not be sufficient cash in your account to pay our fees, we may withhold a sum in respect of our anticipated fees from the proceeds that are payable to you. We may order the P2P platform operator to sell or assign your P2P investments or pay cash or sale proceeds held in your account to us in order to cover our fees. The P2P platform operator shall have rights under the Contracts (Rights of Third Parties) Act 1999 to rely upon this provision for the purposes of making payments to us with your authority and without further reference to you.

Where there are insufficient funds in your account to pay our fees, we shall notify you and you must pay us directly. We may sell any investments or set off any cash balances we hold for you in connection with any other services we provide to you for the purposes of settling any outstanding payments you owe us pursuant to these Terms. We shall always inform you before doing so and we will give you 10 working days’ notice to make alternative payment or indicate which investments you would like to be sold to satisfy your obligations.

Capacity

In your dealings with us, you should act only in a personal and not a business capacity. If you are investing for someone else in a professional capacity, you must tell us immediately, as you may be committing a criminal offence if you are not appropriately regulated to act in this capacity.

Information

We may rely upon any information you provide to us and you must ensure that such information is accurate and complete unless you notify us otherwise.

We may share the information you provide us with the P2P platform operator, with our professional advisors and with any regulatory authority, government body or their agent that reasonably requests to

Liability

We are not responsible for investment performance or the performance of any third party, including a P2P platform operator. Our respective liabilities to each other under these Terms in relation to any matter or matters shall not exceed the total fees we received from you in the previous three years. This clause shall not apply in respect of any liability we are not permitted to exclude or restrict by operation of law.

Complaints

If you wish to make a complaint about the provision of our Services, you should do so through your normal contact in the first instance. If you need to escalate the complaint, you should write to:

Trade Online Group
453 Alexandra Avenue
London HA2 9SE

If your complaint relates to the performance of the P2P platform operator, you should contact them directly in accordance with its terms and conditions or we can refer the complaint to them on your behalf (and will do so within 5 business days of receipt of your complaint).

Amendment

We may amend these Terms as follows:

where the amendment is not detrimental to you or the amendment is required to comply with any change to the Applicable Law, we shall attempt to give you one week’s written notice before the change becomes effective unless this is not practicable in the circumstances;

we shall provide you with one months’ written notice of any amendment not falling within 10.1 above that is detrimental to you: such amendment shall not apply to existing P2P loans you held before receiving such notice (re-investment of the proceeds of existing P2P loans will result in new P2P loans) unless agreed by you (and you will be deemed to have accepted the amendment by placing new business with us after having been notified of the change).

Termination

These Terms may be terminated with immediate effect by either you or us on giving written notice to the other. Termination shall entail closing your account and selling your P2P loans with the P2P platform operator. If this cannot be effected immediately, these Terms shall continue until the account can be closed and you have no involvement in outstanding P2P loans.
Termination shall not affect any existing obligation incurred by either party, except that we shall not charge Administration Fees if you terminate within 14 days of opening your account.

Data Protection

We, and our associates, may hold and process personal data relating to you (using computer systems or otherwise) in carrying out our duties under these Terms.

The information we hold about you is confidential and will not be used for any purpose except as stated in these Terms. Information of a confidential nature will be treated as such provided that such information is not already in the public domain. Information of a confidential nature may be used in the following circumstances:

where required by law or if requested by any regulatory authority or exchange having control or jurisdiction over us (or any associate); to investigate or prevent financial crime or other illegal activity; to any third party in connection with the provision of services to you by us; for Purposes ancillary to the provision of services or the administration of your account, including, without limitation, for the purpose of credit enquiries or assessments;

if it is the public interest to disclose such information; or (f) at your request or with your consent.
We will only transfer your data to third parties outside the EEA where we have satisfied ourselves that they will handle it in a secure fashion.

We will supply to you at your request, on payment of a fee, a copy of the data relating to you and will provide you with a description of the data and the purposes for which it is processed, and with details of the source of the data and any potential recipients of the data. In the first instance, you should direct any such request to us. You should let us know if you think any information we hold about you is inaccurate, so that we may correct it.

We may contact you about our products and services which we believe may interest you, unless you inform us otherwise in writing.
You agree we may record all telephone calls without your specific consent. These recordings shall remain our sole property and you agree that they will be conclusive in the case of any dispute that may occur.

We will retain your records following the termination of any relationship between us.

General

If any part of these Terms are found to be illegal, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of these Terms which shall remain in full force and effect.

Notices to be provided under these Terms may be given by email or by post, unless otherwise stipulated, to:
In the case of Trade Online Group , to: [ ];

In your case, to the contact details you have provided us with in the Application Form or any subsequent address you have provided us with in writing.

Subject to clause 6, either of us may assign our rights under these Terms to another person.
Other than P2P platform operators, a party who is not a party to these Terms has no right under the Contracts (Rights of third parties) Act 1999 to enforce any provision of these Terms.

These Terms and any disputes arising out of or in connection with them are governed by and construed in accordance with English Law, and the parties submit to the exclusive jurisdiction of the English Courts.

Anti Money Laundering Customer Due Deligence

Customer due diligence means taking steps to identify your customers and checking they are who they say they are. In practice this means obtaining a customer’s:
name
Government Issued Photo ID
residential address and date of birth

The best way to do this is to ask for a government issued document like a passport, along with utility bills, bank statements and other official documents. Other sources of customer information include the electoral register and information held by credit reference agencies such as Experian and Equifax.

We need to identify the ‘beneficial owner’ in certain situations. This may be because someone else is acting on behalf of another person in a particular transaction, or it may be because you need to establish the ownership structure of a company, partnership or trust.

As a general rule, the beneficial owner is the person who’s behind the customer and who owns or controls the customer. Or it’s the person on whose behalf a transaction or activity is carried out. If there is doubts about a customer’s identity, we mustn’t continue to deal with them until we are sure.

LOCATION

79 College Road Harrow HA1 1BD London United Kingdom

Phone: +447957017076

Web: www.tradeonline.org.uk