The terms defined in this Chapter shall be written in the first capital letters in the text of the Agreement if, by context, their meaning does not differ from that defined in this Chapter.

The Total Credit Amount is the amount of money provided to the Borrower by the Creditor, which the Borrower can use and which the Borrower is obliged to repay to the Creditor in accordance with the procedure and time limits laid down in the Agreement. The extent of the Total Credit Amount is specified in the special terms and conditions of the Agreement.

The total amount payable by the Borrower is the sum of the Total Credit Amount and the Total Credit Cost. 

The Total Credit Cost – all costs, including interest, taxes and any other payments related to the contract, which the Borrower must pay and which are known to the Creditor, except for the notary fee. The Total Credit Cost for the consumer is calculated assuming that the consumer credit agreement will be valid for the agreed period and that the parties to the consumer credit agreement will fulfill their obligations under the terms and conditions set in the consumer credit agreement.

Co-debtors - Borrowers who jointly sign the Agreement and jointly and severally undertake to fulfill all obligations arising from the Agreement together.

Saldo Internet Bank - a service of the Bank which is available online by logging into the site indicated in the Bank’s website www.saldo.com.

Creditor - Saldo Bank UAB, company code 305334925, registered office address Žalgirio St 94-1, Vilnius, website www.saldo.com.

Borrower - a person with whom the Creditor has entered into the Agreement and who is specified in the special terms and conditions of the Agreement.

The monthly administration fee is the fee that the Borrower is obliged to pay to the Creditor on a monthly basis for the administration of the Agreement, maintenance, collection and distribution of monthly payments. The amount of this fee is specified in the special terms of the Agreement.

Interest – remuneration paid by the Borrower to the Creditor for the use of the Total Credit Amount. The interest rate is fixed and is specified in the special terms of the Agreement.  For the purposes of calculating interest, the year is considered to have 365 days (or 366 days in a leap year) and the month shall have a calendar number of days.  Calculation of the interest is started from the date of the payment of the Total Credit Amount and shall be calculated until the date of repayment of the Total Credit Amount. Interest shall be paid within the time limits specified in the payment schedule.   

The Agreement is this consumer credit agreement, which consists of special and general conditions, payment schedule, as well as all its annexes, amendments and supplements, if any.

The Parties are the Creditor and the Borrower.

The Intermediary – UAB “LENDERS”, company code 302996838, registered address J. Galvydžio St 5, Vilnius, the Republic of Lithuania; UAB “Altero LT”, company code 304896733, registered address, Konstitucijos Ave 7, Vilnius, the Republic of Lithuania.

2.1. The Creditor undertakes to grant the Borrower the Total Credit Amount, and the Borrower undertakes to repay this amount, pay interest and fulfill all other obligations provided for in the Agreement.

3.1. The Creditor shall pay the Borrower the Total Credit Amount by transferring it to the bank account belonging to the Borrower, the number of which is specified in the special terms of the Agreement.

4.1. The Borrower undertakes to repay the Creditor the Total Credit Amount, as well as to pay the interest and the monthly administration fee in accordance with the procedure and terms specified in the Agreement payment schedule. During the entire term of the Agreement, the Borrower has the right to receive the payment schedule at any time and free of charge.

4.2. The Borrower undertakes to transfer all amounts payable under the Agreement to the Creditor's bank account specified in the special terms and conditions of the Agreement. The payment order must include: Borrower's name and surname, Agreement number, customer code in the Borrower's information system. If the data specified in the payment order are contradictory or unclear, the Creditor will firstly use the customer’s code in the Borrower's information system, then the Agreement number or the name and surname of the Borrower.

4.3. Contributions received in the performance of the Agreement shall be allocated in the following order:

4.3.1. firstly the penalty fee will be covered; secondly - Interest; thirdly – monthly administration fee; fourthly – Total Credit Amount; fifthly – other fees and expenses;

4.3.2. according to the order specified in clause 4.3.1, the payments with the earliest maturity shall be covered first;

4.3.3. if the Borrower has entered into several contracts and fails to make payments of any contract, the Creditor has the right to direct the funds received from the Borrower to cover the indebtedness of contracts acceptable to the Creditor, regardless of the data specified in the payment order.

4.4. If the Borrower, in fulfilling all its obligations under the Agreement, pays more than the Borrower was obliged to pay, the Creditor shall be entitled to cover those credit installments (parts thereof) for which the repayment terms provided for in the payment schedule of the Agreement are the latest.

4.5. If the Borrower fulfilled all its obligations under the Agreement and has paid more than the Borrower was obligated to pay, under the Borrower’s request, the Creditor shall return to the Borrower the part of those credit instalments which exceeds the Borrower’s obligations under the Agreement, this return shall be made to the Borrower’s account specified in the special terms of this Agreement. For return of overpayment, the Borrower shall pay a fee specified in the Creditor’s pricing list.

4.5. If the Borrower fulfilled all its obligations under the Agreement and has paid more than the Borrower was obligated to pay, and the part of the credit installments which exceeds the Borrower’s obligations under the Agreement is equal to or less than 10 (ten) euros, the Creditor has the right not to return this part of the instalments to the Borrower.

5.1. The Borrower has the right to withdraw from the Agreement without giving a reason within 2 calendar days from the date of payment of funds under the concluded Agreement. In order to withdraw from the Agreement, the Borrower must, not later than until the end of this period, notify the Creditor in writing and return the amount of consumer credit paid without any interest, other taxes, costs or compensation. The credit amount that is being returned is transferred to the Creditor's account specified in the special terms and conditions of the Agreement.

5.2. The Borrower shall have the right to withdraw from the Agreement without giving a reason within fourteen (14) calendar days from the date of concluding the Agreement specified in the special terms and conditions, and if the Agreement is received later - from the date of its receipt. The Borrower must notify the Creditor of the withdrawal from the Agreement in writing and no later than within thirty (30) calendar days from the date of sending the said notice to return the Total Credit Amount to the Creditor and to pay the Interest calculated up to the date of repayment of this amount. If the time limits referred to in this paragraph are missed or the full amount due is not repaid, the Agreement shall be deemed not to have been cancelled.

6.1. The Borrower shall have the right to repay all or part of the Total Credit Amount at any time by giving prior written notification to the Creditor. If the Borrower has repaid a part of the total outstanding credit amount before the due date on its own initiative and has not notified the Borrower thereof in writing in advance, the Creditor has the right to cover those credit instalments (their parts) for which the repayment terms provided for in the payment schedule of the Agreement are the latest.

6.2. When repaying the full Total Credit Amount, Interest calculated until the repayment date, monthly administration fee, compensation in accordance with point 6.3 of the Agreement (if applicable) and penalty fee.  When the part of the Total Credit Amount is repaid, the new payment schedule is prepared for the remaining amount, reducing those credit installments (parts thereof) for which the repayment terms provided for in the payment schedule of the Agreement are the latest and sent by e-mail or postal message to the Borrower or provided through Saldo Internet Bank. The new payment schedule is mandatory for the deadlines specified therein. 

6.3. If the Total Credit Amount repaid before its maturity or in part thereof exceeds two thousand three hundred and twenty (2,320) EUR in any twelve-month period, the Borrower shall pay to the Creditor compensation equal to one (1) percent from the amount of the Total Credit Amount repaid before the deadline and exceeding two thousand three hundred and twenty (2,320) EUR, when the period between the date of early repayment of the Total Credit Amount and the date of termination of the Agreement is longer than one year, or one half of one (0,5) percent from the amount of the Total Credit Amount repaid before the deadline and exceeding two thousand three hundred and twenty (2,320) EUR, when the period from the date of early repayment of the Total Credit Amount to the date of termination of the Agreement is less than one year. If the compensation referred to in this paragraph is higher than the amount of interest that the Borrower would pay in performance of the Agreement by the end date, the Borrower must pay compensation equal to the interest amount calculated up to the date of termination of the Agreement.

7.1. The Creditor shall have the right to terminate the Agreement before the time limit unilaterally, without recourse to the court, when all of the following conditions are met:

7.1.1. The Creditor informed the Borrower in writing of the overdue payment.

7.1.2. Payment has been overdue for more than one month and is not less than ten (10) percent of the Total Credit Amount that was not repaid, or the payment is overdue for more than three consecutive months.

7.1.3. The late payment was not covered within 14 calendar days from the date of service of the written notice of late payment to the Borrower.

7.2. The Creditor undertakes to notify the Borrower of the termination of the Agreement in the case provided for in point 7.1 in writing.

7.3. The notice of late payment or termination of the Agreement shall be sent to the Borrower by e-mail to the addresses specified in the special terms and conditions of the Agreement, or provided through Saldo Internet Bank.

7.4. Upon termination of the Agreement before the due date, the Borrower undertakes to reimburse the Total Credit Amount not repaid, the calculated interest, the monthly administration fee and other amounts due under the Agreement immediately.

8.1. In the event of late payment of contractual installments, the Borrower shall be required to pay penalty fee at the rate of 0.05% for each day of delay. Late payment penalties are calculated the day of debt repayment, but not for a period longer than 180 calendar days.

8.2. Payment of the Borrower's penalty fee does not release the Borrower from the fulfillment of the obligations provided for in the Agreement.

8.3. If the damage suffered as a result of non-performance or improper performance of the Agreement is not compensated by the penalty fee provided for in point 8.1 of the Agreement, the Party, which has violated the Agreement, shall compensate the damage in accordance with the procedure established by the legal acts of the Republic of Lithuania.

8.4. If the Borrower fails to perform its obligations under the Agreement properly and in a timely manner, the Creditor shall have the right to:

8.4.1. To apply to debt collection companies and / or the court for the award and recovery of debt through enforcement proceedings.

8.4.2. Transfer the rights under this Agreement to third parties (such as debt collection companies).

8.4.3. To transfer information related to the breach of the Agreement (for example, amount of debt, number of days past due, etc.) as well as the Borrower's personal identification number, name and surname to third parties with a legitimate interest for debt management purposes for example, data controllers handling joint debtors' data files). This transfer of data may have negative consequences for the Borrower - disclosure of information on the Borrower's indebtedness may impede the Borrower's ability to obtain credit in the future or enter into another financing agreement, as information on the fact of indebtedness may be available in the databases for ten (10) years after the indebtedness has been repaid.

9.1. The Agreement signed by the Parties shall enter into force on the date of its signing.

9.2. When a contract is concluded with the Co-debtors, it must be signed by all Co-debtors. In the absence of the signature of at least one of the Co-debtors, the Agreement will be deemed not to have been concluded. If a copy of the Agreement signed by the Creditor is signed by only one of the Co-debtors, the Agreement will be deemed concluded if another, analogous copy is signed by the remaining Co-debtors.

9.3. The Agreement shall also be deemed to have been concluded from the date of conclusion specified in the Agreement, if the Borrower expresses the will to confirm the terms and conditions of the Agreement by electronic means (using electronic banking and / or electronic signature). The Agreement concluded by electronic means shall be treated as a transaction in writing, which has the same legal consequences as the Agreement signed by the Parties.

9.4. The Agreement may also be concluded through the Creditor’s Intermediary.

9.5. Relevant amendments or additions to the Agreement subsequently signed by the Parties shall also enter into force in accordance with the procedure specified in points 9.1 - 9.4 of the Agreement.

9.6. Any written correspondence between the Parties shall not be considered as an amendment to the Agreement.

9.7. Notwithstanding points 9.1. - 9.4 of the Agreement, the Agreement does not enter into force and the Total Credit Amount is not paid to the Borrower, if any of the following circumstances exist:

9.7.1.The Borrower unilaterally modifies the terms of the Agreement.

9.7.2. The Borrower incorrectly signs the Agreement.

9.7.3. The Creditor does not receive all the documents constituting the Agreement.

9.7.4. It turns out that the Borrower is included in the list of persons wanted by the police or terrorists.

9.7.5. The information indicating that the Borrower's solvency has deteriorated and does not correspond to the solvency on the basis of which the Creditor made the decision to grant the Total Credit Amount appears in the databases used to check solvency.

9.8. The concluded Agreement is valid until the full fulfillment of the obligations of the Parties under the Agreement.

9.9. Obligations arising from the Agreement may be secured by suretyship and / or other means. The obligation to provide specific security shall be specified in the special terms and conditions of the Agreement and, unless otherwise provided in those conditions, the Total Credit Amount shall be paid only upon provision of the required security.

9.10. The Creditor has the right to unilaterally change the general terms and conditions of the Agreement and the price list of services in accordance with the procedure and in the cases established in the terms and conditions of the Agreement. If the Creditor unilaterally changes the general terms and conditions of the Agreement and / or the price list, the Borrower has the right to unilaterally terminate the Agreement in accordance with the procedure provided for in its general terms and conditions.

10.1. The Borrower undertakes to inform the Creditor immediately about the circumstances that may affect the performance of the Agreement (for example, significant loss of income, seizure of the Borrower's funds, newly assumed financial obligations, etc.) and changes in the contact details specified in the Agreement. The notice to the Creditor shall be deemed to have been duly sent, if it has been sent to the Creditor's contacts specified in the special terms and conditions of the Agreement or provided through Saldo Internet Bank.

10.2. All communications from the Creditor to the Borrower shall be deemed to have been duly submitted, if they were sent to the contacts specified in the last letter of the Borrower or provided through Saldo Internet Bank.

10.3. The Borrower and the Creditor communicate using the contact data specified in the Agreement. All correspondence or communications related to the Agreement shall be in writing. Written notices shall be deemed to have been received upon expiry of five (5) business days period beginning on the date of dispatch of the notice.

10.4. The Borrower's requests and notifications to the Creditor shall be submitted using the Creditor's details specified in the Agreement. The Creditor undertakes to respond to the request no later than within thirty (30) calendar days from the date of its receipt. The response is usually in the form in which the request is made.

10.5. If the Parties agree to amend the Agreement on the basis of the Borrower's request or other services are requested, in this case, the Borrower undertakes to pay the fees related to the amendment of the Agreement and / or provision of additional services, which are set in the Creditor's price list and published on the Creditor's website.

11.1. Disputes between the Parties arising from the Agreement shall be settled in accordance with the laws of the Republic of Lithuania.

11.2. Disputes and disagreements between the parties shall be settled primarily through negotiations and, if negotiations fail, in the court having jurisdiction to hear the dispute.

11.3. If the Borrower's place of residence is unknown, the Creditor's claims shall be settled on the basis of the Creditor's registered office.

11.4. The Borrower, believing that the Creditor has improperly executed the Agreement or violated his rights or interests protected by law, shall apply in writing to the Creditor and justify his claim. The Creditor examines and submits a written response to the Borrower’s request free of charge no later than within 15 working days from the date of receipt of the Borrower’s request. When, for reasons beyond the control of the Creditor, it is not possible to respond to the Borrower’s request within 15 working days, the Creditor informs the Borrower in writing about the reasons for the delay in responding to the request and indicates the deadline by which the Borrower will receive a final answer. The deadline for submitting the final answer will not exceed 35 working days from the date of receipt of the Borrower’s request.

11.5. If the Borrower is not satisfied with the Creditor's answer or if the Creditor has not responded within the time limit specified in point 11.4 of the Agreement, the Borrower has the right to apply to the Bank of Lithuania for an out-of-court settlement of disputes with the Creditor at the address Žalgirio st 90, LT-09303 Vilnius, www.lb.lt, within 1 year from the date of application to the Creditor.

12.1. The Creditor is supervised by the Bank of Lithuania, Žalgirio St 90, LT-09128, Vilnius, www.lb.lt.

13.1. The Creditor ensures the protection of the Borrower's personal data and privacy. During provision of the credit services, the Creditor collects, uses, stores and otherwise processes the Borrower's data for the conclusion and performance of the Agreement, performance of the Creditor's obligations under applicable legal acts and for other purposes in compliance with data protection legislation.

13.2. The Creditor processes, collects, uses, stores and otherwise processes the Borrower's data as detailed in the data protection information notice provided to the Borrower. The Borrower may access this notice on the Creditor's website. Point 13.1 of the Agreement does not apply when the Creditor fails to fulfill his obligations under the Agreement and the Creditor discloses information to third parties in cases of transfer of the claim.

13.3. Before concluding the Agreement, the Borrower must read the Creditor's information notice on data protection. If this notice or any part of it turns out to be incomprehensible or unclear to the Borrower, the Borrower must inform the Creditor about it prior to the conclusion of the Agreement, and the Creditor must submit and explain the uncertainties specified by the Borrower. By signing the Agreement, the Borrower confirms that he has read and fully understood all the provisions of the data protection notice.

13.4. The Borrower must immediately notify the Creditor in writing, if the Borrower becomes aware that the Creditor collects, uses, stores and otherwise processes any inaccurate or outdated personal data of the Borrower, or the Borrower believes that the Creditor collects, uses, stores and otherwise processes any personal data of the Borrower in violation of the requirements of legal acts.

14.1. The Borrower agrees to receive the information on the performance of the Agreement by e-mail, telephone, short messages (SMS), if these contacts are specified in the Agreement, or through Saldo Internet Bank.

14.2. The Borrower cannot transfer his rights and obligations under this Agreement to third parties.

14.3. The Creditor has the right to assign, pledge, transfer to a third party all or part of the Creditors' claims that arise or may arise from the Agreement without the consent of the Borrower, provided that this does not infringe the Borrower's rights or encumber his obligations.

14.4. The Borrower warrants that all documents and information provided to the Creditor are correct and true. If it turns out that the information provided by the Borrower is incorrect, the Borrower must compensate all losses incurred by the Creditor due to the use of false / incorrect information.

14.5. By signing the Agreement, the Borrower confirms that the Borrower has received the standard consumer credit information form prior to the conclusion of the Agreement, also, the Borrower received, read and understood the terms of the Agreement, agrees with them and undertakes to comply with them, the terms of the Agreement have been explained and discussed individually, the Borrower does not wish to change or supplement the terms of the Agreement. The Borrower shall also confirm that the Total Credit Amount granted under the terms and conditions specified in the Agreement is commensurate with his needs and financial capabilities.

14.6. The Creditor and each Borrower shall receive one copy of the Agreement with equal legal force.