Introduction
These loan terms and conditions apply between you, the Entity seeking to obtain a loan, and Tupel GBR Ltd, a UK-based company incorporated in the United Kingdom (company number 16073809), with its registered office at 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom. Please read these terms and conditions carefully, as they affect your legal rights and obligations.
This summary provides an overview of the key terms and conditions that will govern any loan agreement between you and Tupel. The full loan agreement, which will be made available to you upon entering a loan, contains additional terms and conditions that will also apply. In the event of any conflict between this summary and the full loan agreement, the full loan agreement shall take precedence. Your agreement to comply with and be bound by these terms and conditions, and the full loan agreement, is deemed to occur upon your checking the confirmation box and proceeding with your loan.
By proceeding with your loan, you represent and warrant that you have the legal capacity to enter into binding agreements. Additionally, you confirm that you also accept all other policies referenced in our main Terms and Conditions, including our Privacy Policy, Cookies Policy, and Disclaimer, and that you agree to comply with them.
Loan & Repayment
You acknowledge that by entering into a loan agreement with Tupel, you will receive a specified principal amount and agree to pay daily compounding interest at the rate specified in your individual loan agreement. Interest shall accrue daily on the outstanding principal amount and will be billed monthly in arrears. You must ensure that the principal amount is repaid in full no later than the agreed repayment date specified in your loan agreement. You may make partial repayments at any time prior to the final repayment date, and interest will continue to accrue on the remaining principal balance following such partial repayments.
You are responsible for ensuring all payments are made to Tupel by the applicable due dates, and you remain fully liable for all payments regardless of the payment method used. All third-party fees, including payment processing fees and foreign exchange fees, shall be passed through to you and included in relevant invoices.
Personal Guarantee
You acknowledge that a personal guarantee is required for all loans provided by Tupel. All individuals who have completed Tupel's KYC verification process for the loan application shall act as guarantors and shall be jointly and severally liable for the personal guarantee. Each guarantor irrevocably and unconditionally guarantees the due and punctual payment and performance of all obligations under the loan agreement, including the principal amount, all accrued interest, default interest, third-party fees, and all costs, losses, and expenses. You understand that the borrower and all guarantors are jointly and severally liable for all amounts due under the agreement.
The guarantee constitutes a continuing obligation that shall remain in full force until all obligations have been satisfied in full and shall not be affected by any variation, extension, waiver, or release granted to you as the borrower. The guarantee remains valid even if you become insolvent, cease to exist, or are wound up, and may be enforced without requiring Tupel to first pursue you or any security.
Security & Assets
You acknowledge that by entering into the loan agreement, you create in favour of Tupel a charge over all your assets, undertaking, and rights, which shall remain in effect until the principal amount and all accrued interest have been repaid in full. You agree that you shall not create or permit to subsist any security interest over any of your assets whilst any amount remains outstanding under the loan agreement.
You covenant that throughout the duration of the loan agreement, you shall not incur any additional borrowing without the prior written consent of Tupel. You must promptly notify Tupel of any circumstance that might affect your ability to meet your obligations under the agreement and comply with all applicable laws and regulations.
Default & Enforcement
You acknowledge that an Event of Default shall occur if you fail to pay any sum due under the loan agreement within five business days of its due date, if you become insolvent or subject to bankruptcy proceedings, or if any representation or warranty made by you or any guarantor proves to be materially incorrect.
Upon the occurrence of an Event of Default, Tupel may, without notice, cancel any outstanding commitment to provide further funds, declare all outstanding amounts immediately due and payable, enforce any security, charge default interest at the higher rate specified in the agreement, commence legal proceedings, and make demand under the guarantee for immediate payment of all obligations. You and all guarantors shall jointly and severally indemnify Tupel against all costs, losses, and expenses incurred in connection with an Event of Default.
You acknowledge that the occurrence of an Event of Default under any loan agreement with Tupel shall constitute an Event of Default under all other loan agreements between you and Tupel, and Tupel may exercise its rights and remedies under all loan agreements as if an Event of Default had occurred under each of them.
Representations & Business Purpose
You represent and warrant to Tupel that you are duly formed, registered, and validly existing as a legal entity, that you have the power to enter into and perform your obligations under the loan agreement, and that all information provided to Tupel is true, complete, and accurate in all material respects. You acknowledge that the loan is being obtained solely for business or commercial purposes and not for personal use.
You consent to Tupel obtaining and reporting credit information to third-party credit bureaus, including in the event of default. You acknowledge that you have had adequate opportunity to review the loan agreement with legal counsel and obtain any translation assistance deemed necessary. All guarantors similarly represent and warrant their legal capacity and consent to credit reporting activities.
Legal Terms & Jurisdiction
You acknowledge that the loan agreement, including any guarantee, shall be governed by and construed in accordance with the laws of England and Wales. You submit to the exclusive jurisdiction of the English courts in relation to any dispute arising out of the loan agreement or guarantee.
You understand that Tupel may at any time assign, transfer, or novate any of its rights and obligations under the loan agreement to any third party without your consent, and any guarantee shall remain in full force and effect in favour of any such assignee. You may not assign, transfer, or novate any of your rights or obligations without Tupel's prior written consent.
Confidentiality & Electronic Execution
You undertake that you shall not disclose to any person any confidential information concerning Tupel's business, affairs, customers, clients, or suppliers, or the existence or terms of the loan agreement, except as required by law or with Tupel's consent. You agree that the loan agreement may be executed electronically through checking the appropriate confirmation on Tupel's website or making an API call with appropriate authentication credentials, and that such electronic execution constitutes valid execution with the same legal effect as a handwritten signature.
Disclaimers
To the maximum extent permitted by law, Tupel provides the loan service "as is" and on an "as available" basis. Nothing in the loan agreement will limit or exclude Tupel's liability for death or personal injury resulting from negligence, fraud, or fraudulent misrepresentation, or limit any liabilities in any way that is not permitted under applicable law. You acknowledge that you should obtain independent legal and financial advice before entering into any loan agreement.
Verification & Compliance
You acknowledge that you must successfully complete Tupel's Know Your Customer (KYC) verification process before any loan can be approved. You understand and agree that all individuals who complete the KYC verification process in connection with the loan application will be required to provide personal guarantees for the loan and will be jointly and severally liable for all obligations under the loan agreement. Where the borrower is a legal entity, each individual who signs and enters into the loan agreement on behalf of the borrower must have completed Tupel's KYC verification process and will act as a personal guarantor.
You agree to provide accurate, complete, and up-to-date information during the application process and to promptly notify Tupel of any changes to your circumstances that may affect your ability to meet your obligations under the loan agreement.
You must ensure that all information provided during the application process and throughout the duration of any loan agreement is true, complete, and accurate in all material respects. You agree to provide Tupel with such financial information as Tupel may reasonably request from time to time.
Variation & Entire Agreement
No variation of the loan agreement shall be valid or effective unless it is in writing, refers specifically to the loan agreement, and is duly signed by or on behalf of each party. The full loan agreement, together with this summary, contains the whole agreement between the parties relating to the loan and supersedes all prior discussions, arrangements, or agreements that might have taken place.
Contact Information
If you have any questions about these terms or require clarification before proceeding with your loan application, please contact us at support@tupel.com.