LOAN SECURED BY VIRTUAL CURRENCY COLLATERAL

General provisions of the Loan Agreement    


1. General
The Creditor refers to ViaConto Sweden AB, which owns the CryptoLoan brand (further referred to as CryptoLoan), corporate identity number 556819-6041. The Borrower refers to the person who applied for the loan secured by Virtual currency Collateral. The loan secured by Virtual currency Collateral (further referred to as Loan) refers to a right for the Borrower to receive the Loan by providing Collateral of Virtual currency to the Creditor. The Collateral serves as a guarantee for Loan repayment and indicator for determining Creditor’s activities related to Loan-to-value. Within the meaning of this Agreement as the Collateral serves the Virtual currency. The Loan agreement refers to present Special and General provisions (further referred to as Loan agreement or the Agreement). ViaConto Sweden AB is a consumer credit institution authorized by the Swedish Financial Inspectorate to conduct consumer crediting operations. The supervisory authority of ViaConto Sweden AB's operations is the Financial Inspectorate and the Swedish Consumer Agency. ViaConto Sweden AB applies the Consumer Agency's regulations on consumer issues, as well as the Financial Inspectorate's regulations on money laundering and terrorist financing.
This Agreement consists of Special provisions and General provisions of Loan Agreement, both of them form integral part of the Agreement.
By applying for the Loan, the Borrower certifies that he/she has read and accepted the provisions of Special and General provisions, and that creditworthiness assessment of the Borrower may be performed. The Borrower certifies that the information provided by the Borrower to the Creditor is correct and complete.
By applying for the Loan, the Borrower also certifies that he/she has obtained Collateral by generated income through legal actions pursuant to the requirements of applicable Anti-money laundering laws and regulations.
When Borrower has accepted ViaConto's Special provisions and General provisions and the Creditor has adopted the decision to disburse the Loan to the Borrower, this Loan agreement is entered into and is valid until the day when both Parties have fulfilled their financial and other obligations pursuant to the present Agreement.
The Borrower is entitled to receive a copy of Loan agreement free of charge.

2. Loan application and creditworthiness assessment
Borrower applies for the Loan through CryptoLoan's website www.cryptoloan.se. In order to apply for the Loan, the Borrower shall comply with the following basic conditions:
  • Over 18 years old
  • Registered in Sweden for at least two years with a permanent address
  • Unprotected identity
  • Who has no appointed guardian/trustee (in Swedish förvaltare) due to lack of competence
  • Has a private account opened within a credit or payment institution registered in European Economic Area (EEA)
  • Has registered mobile phone number
  • Has certified identity card
  • is the owner of Virtual currency

In addition to this, the Borrower shall not have any ongoing cases with the Enforcement Administration or previously misappropriated payments at ViaConto Sweden AB or other creditors.
The Loan application is processed during the customer service opening hours, which are reported on CryptoLoan’s website www.cryptoloan.se.
ViaConto is entitled to request additional information or evidence that strengthens the Loan repayment ability and may also contact the Borrower to request additional information. The Borrower agrees that ViaConto has the right to check the information provided by the Borrower, whereby the employer may be contacted or Borrower’s official income can be verified basing to the fact of entering into this Agreement. ViaConto has the right to grant less Loan amount than the Borrower has applied for depending on LTV in order as described by this Agreement.
If the Borrower’s application for the Loan is refused as a result of searches found in the database of a credit reporting company or the Collateral value is less than requested by the Borrower in application, ViaConto will inform the Borrower accordingly.
At the result of creditworthiness assessment the Borrower might be granted lower amount than requested by the Borrower during the Loan application process at www.cryptoloan.se.

3.Loan amount
The Loan is secured by the Collateral.
The Loan is granted in the amount of LTV 50% on the day of taking the decision on granting the Loan.
The Loan amount can be set by the Creditor at a specific amount between SEK 5 000 and SEK 150 000 as requested by the Borrower and confirmed by the Creditor in conjunction with LTV valuation performed by the Creditor results.
If the Creditor adopts the decision on disbursement of the Loan amount which is not less than required by the Borrower in its Loan application or is less than requested by up to 30%, the Loan amount is disbursed to the Borrower’s bank account.
If the Creditor adopts the decision on disbursement of the Loan amount which is less than required by the Borrower in its Loan application by least for 30% and more, the Borrower shall provide its consent to receive the Loan in Borrower’s customer profile at www.cryptoloan.se or refuse the application to receive the Loan. If the Borrower has provided its consent, the assigned Loan amount is disbursed to the Borrower’s bank account. If the Borrower has rejected to receive the diminished amount of the Loan, then the Creditor transfers received Collateral from its Virtual currency’s address to the Virtual currency’s address owned by the Borrower.
The Loan is disbursed to the Borrower only after then, when the Creditor has received the Collateral according to the order as defined in the Section 4 “The Collateral”.

4.The Collateral
The Collateral as described by the present Agreement shall be regulated by general provisions of possessory pledge according to Swedish law.
The Collateral exchange rate (BTC/EUR) is determined by Bitstamp. The Collateral value is updated on-line through Bitstamp at https://www.bitstamp.net/.
The Borrower after the submission of the Loan application and before the Creditor has adopted the decision on Loan disbursement to the Borrower shall transfer the Collateral from his/her Virtual currency unique address (further referred to as Virtual currency address both if applied in connection with the Borrower or the Creditor) to Virtual currency unique address, provided by the Creditor. The Creditor is entitled to contact and/or implement any Collateral related transactions prescribed by present agreement towards the Bitstamp through any affiliated company forming one group with the Creditor.
When Creditor has received the Collateral on its Virtual currency unique address the Creditor shall determine the precise amount of the Loan amount according to LTV valuation principles defined by the present Agreement.

5.Loan disbursement
Granted Loan is paid out to the Borrower’s personal account opened with the credit institution or payment institution registered in EEA, that was indicated by the Borrower during the Loan application process as well as when registering on www.cryptoloan.se. ViaConto has the right to request the additional information or take other measures to verify that the account belongs to the Borrower. The Loan amount will be credited to the Borrower’s account after the Collateral is transferred to the Creditor’s Virtual currency address and the Loan amount is approved by ViaConto.

6.Interest and fees
For use of the Loan, the Borrower is obliged to pay the interest and fees in accordance with the applicable price list. Interest and any additional fees for the Loan are reported on the website www.cryptoloan.se at the time of Loan application and reflected in the Special provisions of the Loan agreement, as well as in invoice. The Creditor reserves the right to change interest rates and fees whenever it is motivated by credit related political decisions, increased borrowing costs or other cost increases for the Creditor, which could not reasonably be expected when the Loan agreement was concluded.
The interest rate is calculated on an annual interest rate on the outstanding Loan balance at any given time and capitalized on a monthly basis in case the current interest amount did not reach the Creditor on the due date. Interest is calculated over the outstanding Loan balance on a daily basis based on a year of 365 days, at the leap year of 366 days.
The Borrower shall cover Virtual currency transaction fee in an amount of SEK 150 per Loan. The respective fee will be invoiced for the first Settlement period.

7.Repayment of the Loan
Loan repayment term is 24 (twenty-four) months from the date the Loan is granted.
The Loan and accrued interest shall be repaid by monthly installments (further referred to as Settlement period) within Loan repayment term of 24 months. The Settlement period corresponds to one 30 days, except for the first Settlement period equal to the number of days elapsed from the date of Loan disbursement until the first billing date as chosen by the Borrower. The day after the end of the Settlement period, ViaConto will invoice the Borrower for the previous Settlement period. The invoice contains information about utilized credit, accrued interest and other payments deriving out of this Agreement (if any).
The repayment of the Loan shall be made by instalment transfer on the due date and the Borrower shall repay at least Minimum payment per month.
If the due date falls on a day that is not a banking day, the payment shall be made before the respective banking day.
First Loan repayment takes place not more than 30 days after the Loan is granted. The invoice will be sent to the Borrower for the current Settlement period at least 10 days before the due date. Thereafter, repayment will take place on the same date of the month of each subsequent month. A request for change of payment date can be made by the Borrower at any time once during the term of the Credit Agreement free of charge. The payment date will be changed starting from the next settlement period. Though if the Borrower has any delayed payments towards the Creditor, the request of change of payment date would not be confirmed by the Creditor.
At any time, the Borrower has the right to repay the total amount of the Loan in full, accrued interest for utilized Loan and any other fees without additional fees or pay part of the Loan with any amount exceeding the Minimum payment per month. All payments made before the end of the Settlement period are deducted from the Loan principal.
The Creditor sends the invoice electronically to the Borrower's e-mail address ten (10) calendar days before each due date. Not receiving invoices does not release the Borrower from the obligation to repay the Minimum payment per month per Settlement period at the due date. Payment can only be made to ViaConto Sweden AB, 556819-6041 via Bankgiro 5260-6431 or via Swish 1233930260, unless stated otherwise.
If payment is made via Swish, the payment must be made no later than at 16.00 o’clock a banking day before the due date. Any changes in account balance will be corrected on next month's invoice.
A repayment plan is not offered for this type of the Loan.

8.Event of default and Collateral realization
In the circumstances of the following events (Events of default) the Collateral will be realized by the Creditor without additional permission from the Borrower other than that provided when entering into the respective Agreement:
  • LTV is not less than 90%
  • In case the Creditor has adopted the decision on Loan disbursement, though the transfer of the funds has not reached the Borrower’s account yet and LTV is below the threshold as set by the present Agreement;
  • The Creditor has ascertained that Borrower’s solvency has deteriorated and Loan, accrued interest and other fees deriving out of this Agreement cannot be repaid by the Borrower;
  • The Creditor has reasonable doubts that Loan, accrued interest and other fees deriving out of this Agreement might not be repaid by the Borrower
  • In any case when the Loan agreement is terminated unilaterally by the Creditor as prescribed in the Section 9 and the Borrower has not settled its financial obligations towards the Creditor in a due term.

The Creditor has the right to constantly monitor LTV changes that may depend on BTC/EUR exchange rate fluctuations as well as unsettled Borrower’s liabilities towards the Creditor and other causes as foreseen by this Agreement.
At the time when the Collateral value has dropped and/or Borrower’s outstanding liabilities has increased reaching LTV 65% threshold, the Creditor undertakes to inform the Borrower on that by email indicated by the Borrower at the process of Loan application. If that is a case the Borrower can make additional payments to the Creditor surplus Minimum payment per month in order to repay the Loan principal, accrued interest and other fees deriving out of this Agreement prematurely and meet the ratio of LTV.
At the time when the Collateral value has dropped and/or Borrower’s outstanding liabilities has increased reaching LTV 90% threshold, the Creditor is entitled to sell the Collateral in order to cover Borrower’s outstanding liabilities deriving out of present Agreement. The Collateral is put up for sale at the currency exchange rate (BTC/EUR) as determined at Bitstamp at https://www.bitstamp.net/.
If the Collateral is realized for the amount higher than Borrowers liabilities deriving out of this Agreement (Loan principal, accrued interest and other fees), the Creditor shall transfer the difference to the Borrower’s account.
If the Collateral is realized for the amount lower than Borrowers liabilities deriving out of this Agreement (Loan principal, accrued interest and other fees), the Borrower shall settle all outstanding liabilities towards the Creditor or is transferred to debt recovery according to Swedish law.
In case the Borrower has completed all liabilities (including repayment of the Loan principal, accrued interest and other applicable fees) deriving out of the present Agreement, the Collateral is returned to the Borrower. The Collateral will be returned to only that Borrower’s Virtual currency unique address from where the Collateral was transferred.
The Borrower is liable to ensure that other third parties’ claims are not secured by the same Collateral.

9.Creditors' right to terminate the Loan agreement for early payment
The Creditor is entitled to terminate the Loan for early payment by sending appropriate notice to the Borrower by e-mail in any of the following circumstances:
  • LTV on the day of LTV valuation forms 90%;
  • Borrower is otherwise in material delay with the payment (-s);
  • It is clear that the Borrower, by departing, removing property or by other procedures, evades paying the Loan, or it can be assumed that the Borrower's financial circumstances are such that there is reason to believe that the Borrower will not fulfill its obligations towards to the Creditor.
  • The Borrower has not fulfilled its obligations according to this Agreement or otherwise against the Creditor;
  • There is reasonable reason to assume that the Borrower will not fulfill his payment obligations against the Creditor.
  • In case where the Borrower's personal circumstances change, for example by Borrower going bankrupt, the Borrower has been assigned by a trustee or if the Borrower dies.

In case the Agreement is unilaterally terminated by the Creditor, the Creditor has the right to realize the Collateral as defined by Events of default and take any other debt collection measures as foreseen by the applicable laws, at which point the cost for the debt collection operation may be levied against the Borrower.

10.Payment delay
In case of late payment, the Borrower will be charged a reminder fee of SEK 60,- for a written reminder, a delay fee of SEK 60,- and a late interest fee on the due amount including interest accrued at any time until full payment has been paid. The late interest fee is 2.5% per month, that is to say 30% per annum and charged irrespective of whether the Loan is canceled or not and interest is capitalized monthly from the first day after due date. Upon termination of the Loan agreement pursuant to Section 9 “Creditors' right to terminate the Loan agreement for early payment”, interest will be charged according to the General provisions to the amount at the time of termination.
If there are grounds to do so, the Creditor or a party which has taken the Creditors place, has the right to charge compensation for collection costs, fees to the Enforcement Administration, legal expenses and compensation for additional work in accordance with the applicable legislation.

11.Right of cancellation and early redemption.
According to the Consumer Credit Law, the Borrower has a right of cancellation of the entered Loan agreement. The deadline for the cancellation period is set 14 days from the date of the Loan agreement being entered. If the Borrower wish to invoke their right of cancellation or early repayment, this shall be notified to ViaConto in writing or by telephone. The Borrower shall then reimburse the full amount of the Loan, including interest accrued up to and including the date of repayment, as soon as possible and no later than within 30 days. The Borrower is entitled to repay the Loan before the agreed due date. In case of early repayment, accrued interest will be paid up until the date of repayment.

12.Settlement
Upon Borrower’s payment, the Creditor has the right to settle all due fees, expenses and interest relating to the Loan, before settlement of the Loan principle occurs.

13.Changes to Terms and Termination of agreement
ViaConto has the right to change the General provisions of the Loan agreement during the Agreement period. When changing the provisions, the Borrower shall be notified in reasonable time in advance. The change applies from the date which ViaConto specifies in the notification, but no earlier than five (5) weeks after the notification has been sent. If the Borrower does not accept the changes of provisions, the Borrower shall have the right to terminate the Loan Agreement by paying outstanding Loan principal, accrued interest, contractual penalties (if any) and other fees deriving out of the present Agreement.
In addition to the conditions listed in Section 9 “Creditors' right to terminate the Loan agreement for early payment, ViaConto has the right to terminate the agreement with the Borrower unilaterally if ViaConto for business reasons decides to cease to offer Loan as a service. In the occurrence of such termination, the Borrower shall have the right to repay the Loan in accordance with the applicable terms as set out in this Agreement as well as the Creditor shall return the Collateral according to the principles established by the present Agreement.

14.Communication
The Borrower shall be obliged to immediately notify ViaConto of changes to the Borrower’s personal data, address, mobile number or account number if the change occurs during the Loan period. The changes must be registered in the Borrower’s customer profile on ViaConto's website www.cryptoloan.se or notified to Customer Service. The Borrower is responsible for the accuracy of the given information. Any notification sent by ViaConto by letter to the Borrower shall be deemed to have reached the Borrower no later than seven (7) days after the date of dispatch, if the notification has been sent to the Borrower's permanent posting address or to the last address provided by the Borrower to ViaConto. Messages sent electronically by SMS or e-mail shall be deemed to have reached the Borrower no later than seven (7) days after the dispatch, if the message was sent to the mobile number and / or e-mail that the Borrower has provided to ViaConto. Information about the Borrower’s credit commitment, annual report, and current invoices are submitted electronically and are available in the customer profile at www.cryptoloan.se.

15.Processing of Personal Data
ViaConto processes personal data in accordance with the Swedish Personal Data Act (1998:204). ViaConto is responsible for processing of personal data and treating the Personal Data of the Borrower for the purpose of managing the customer relationship, fulfilling the prescribed obligations, including on good credit practice, conduct customer and market analyzes, as well as business and method development, risk management and to inform about ViaConto's current offers. The personal data may be disclosed to the Creditors' other partners as far as is necessary for the performance of the credit agreement. The Creditor may supplement the Borrower’s personal data by retrieving data from third party records in order to, inter alia, prevent fraud, money laundering or other criminal activities. The personal data are retained and may be used for any of the above purposes even after the current credit agreement expired. ViaConto owns the right to record or otherwise document the communication with the Borrower. The Borrower is entitled to receive information from ViaConto about what personal data is processed by ViaConto. The Borrower can request a correction of misleading or incorrect information at ViaConto. The Borrower may report in writing that it opposes processing of personal data for marketing purposes. By accepting the terms and conditions, the Borrower agrees that his personal data is processed in accordance with this paragraph.

16.Fraud
All attempts at fraud are reported to police. Necessary information about the Borrower will be submitted to the police if there are suspicions of fraud.

17.Force majeure
Liability cannot be claimed against ViaConto due to damage caused by the enforcement of Swedish or foreign legislation, Swedish or foreign government action, unsanctioned, uncontrollable by the Creditor and unauthorized actions in Bitstamp, war event, strike, blockade, boycott, lockout, cyberattack or other similar circumstance. The reservation for strike, blockade, boycott, lockout and cyberattack applies even if ViaConto itself is subject to such a conflict. Damage caused in other cases shall not be compensated by ViaConto if normal care has been observed. ViaConto is not responsible for indirect damage. If ViaConto is prevented from taking action due to the above circumstances, the action may be postponed until the obstacle has ceased.

18.Complaints and disputes
Comments and grievances and complaints directed to ViaConto can be made as follows:
Over the phone: 0757575023
By email: klagomal@viaconto.se
By post/ mail: ViaConto Sweden AB, Holländargatan 27 113 59, Stockholm

The Borrower may also contact the General Complaints Board (ARN), Box 174, 101 23 Stockholm, phone: 08-508 860 00. In case of dispute between Creditor and Borrower where an agreement cannot be reached, the parties have the right to have the dispute settled in Swedish court. The Borrower can also get free advice from the Consumer Banking and Finance Agency www.konsumenternas.se, or contact the Consumer Agency www.konsumentverket.se.
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