Effective as of February 14, 2022
The isarlend GmbH, Agnes-Pockels-Bogen 1, 80992 Munich (“Platform Operator”), legally represented by its managing directors Dr. Alfred Gruber and Nathan Evans, operates a platform on the website www.fulfin.com that is intended to support users in their cash flow planning and, if desired, facilitate loan brokerage. The loan brokerage is conducted between the user and a bank cooperating with the platform operator (“Partner Bank”). The platform operator fulfills the legally required conditions for loan mediation according to §34c para. 1 no. 2 GewO (German Trade Regulation Act).
2.2 Services provided by the platform operator are not available to users other than commercial users.
2.6 By using the platform, the respective user acknowledges the applicability of these terms. The user’s general terms and conditions do not apply to transactions conducted through the platform.
3. Basis and Operation of the Platform
The platform operator does not provide recommendations or any other advisory services, including investment and financing advice. The platform operator does not grant loans itself and does not act as a bank. Users act on the platform in their own name and at their own risk. Refer to section 5 (Risk Notices) for further information.
4. Use of the Platform
Users may use the platform according to the following provisions.
4.2 Registration, Data Protection
4.2.2 The user is obliged to provide truthful and complete information during registration and to keep this information up-to-date by adjusting it in the protected area of the platform. In particular, business address and bank details must be updated promptly in case of changes.
4.2.4 The user is obligated to use the platform only as intended and for purposes that are legally permissible. The relevant users are obliged to indemnify the platform operator against all claims by third parties (including other users) that result from their culpable violation of these usage conditions or are related to them.
4.3.1 If the user wishes to submit a loan brokerage application, identification will be conducted in accordance with the Money Laundering Act.
4.3.2 Identification is carried out through a procedure specified by the platform operator. In the case of legal entities, the platform operator may request suitable evidence of identification from the members of the respective management body or other authorized representatives, as well as from beneficial owners.
4.4 Availability of the Platform
The platform operator is obligated to keep the platform available for use during the availability periods determined by the platform operator. However, the platform operator is not obliged to keep the platform available at all times. In particular, the platform operator is entitled to completely or partially cease or restrict the operation of the platform if maintenance is required, if the security of the platform (especially data security) demands it, if the platform operator is exposed to events beyond its control (such as defects, limited availability, or failure of telecommunications networks, data transmission by third parties, power supply, as well as natural disasters, shutdown orders by supervisory authorities not caused by the platform operator, and similar events), or if measures are required to ensure the security of the platform operator’s servers (such as in the case of internet attacks) or if technical measures are required to maintain or improve the standard of the platform.
4.5 Data Transmission Data entered on the platform is transmitted encrypted. Despite encrypted data transmission, the platform operator has no influence on data transmission over the internet itself. The platform operator notes that it secures its systems against unauthorized access to the data stored by the platform operator solely with the currently available security systems and that absolute protection against attacks by third parties is not possible according to the current state of technology and is not owed by the platform operator.
5. Loan Applications and Loan Mediation
5.1 Loan Application
5.1.1 Users can submit loan applications via the platform according to the options offered on the platform.
5.1.2 By submitting a loan application, the user makes an offer to the platform operator to conclude a loan mediation contract.
5.1.3 The user is bound by their declarations until 14 calendar days after submitting the loan application.
5.1.4 Due to the loan mediation contract, the platform operator is neither obligated to undertake specific actions nor to achieve specific results. The respective loan mediation contract ends without requiring termination if a loan agreement between the user and the partner bank is not concluded within 14 days.
5.2 Credit Check; Rating
5.2.1 Before forwarding a loan application to the partner bank, the platform operator checks the loan application in formal terms and creates an internal loan rating for each loan for the purposes stated in section 5.3.2.
5.2.2 The loan rating is conducted to determine the user’s creditworthiness.
5.2.3 In addition, before forwarding the loan application and possibly thereafter, when the user repeatedly uses the platform, at times determined by the platform operator, the platform operator will obtain an external credit report about the user from service providers selected by the platform operator at its own discretion. Furthermore, the platform operator may obtain a credit report from the business management members of the user and/or significant owners or beneficial owners of the user and/or security providers from Schufa (http://www.schufa.de) or Creditreform (http://www.creditreform.de).
5.3 Forwarding the Loan Application to the Partner Bank
Based on the obtained and made available information about the user, the platform operator makes a decision about forwarding the loan application to the partner bank. There is no entitlement to forwarding a loan application. The platform operator may terminate or pause the processing of the loan application at any time (for example, if there are reasonable doubts about the accuracy of the information or if the user terminates their user agreement or revokes consent for inclusion of the data protection declaration concerning them or for obtaining necessary data and reports from third parties). Until the loan application is forwarded, the user can correct the information provided by them or resolve doubts raised by the platform operator.
5.4 Mediation of the Loan Agreement
A loan agreement can only be mediated to the user if the partner bank agrees. The partner bank examines the loan application in advance. It relies on the information transmitted by the platform operator (rating, credit report, etc.) for this purpose. The partner bank always makes an independent loan decision for lending and is not obligated to grant the loan.
5.5 Electronic Declarations of Intent
The declarations and consents of the user required for the conclusion of contracts are made electronically on the platform. This means that the respective contract is concluded without a signature and only through electronic confirmation / electronic signature on the platform. In this respect, the user agrees to receive electronic communication from the platform operator and agrees that all consents and other communication that the user has to give do not require written form, unless mandatory applicable legal regulations require a different form of communication. If declarations of intent are made on behalf of the user by electronic confirmation or email using the user’s access data, these shall be attributed to the user as holder and recipient of the access data in accordance with the general legal provisions on representation. The platform operator will forward electronically submitted declarations as a declaration agent to the respective lending institute.
6. Risk Notices
Each user is responsible for assessing the opportunities and risks of cash flow planning and the use of external capital in the form of a loan independently and carefully. The platform operator does not provide recommendations and does not offer advisory services.
7.1 The platform operator is liable for damages – regardless of the legal basis – only in cases of intent and gross negligence. In cases of ordinary negligence, the platform operator is liable only (i) for damages resulting from injury to life, body or health, and (ii) for damages resulting from the breach of a material contractual obligation (obligation whose fulfillment is essential for the proper performance of the contract and on the observance of which the user regularly relies and is entitled to rely); in this case, the liability of the platform operator is limited to compensation for foreseeable, typically occurring damage.
7.2 Liability for force majeure is excluded.
8. Duration, Termination
8.1 The user agreement established by completing the registration between the user and the platform operator runs indefinitely and can be terminated by both parties with a notice period of two weeks to the end of the month. The right to extraordinary termination remains unaffected.
8.2 In the event of termination, the rights and obligations established until the end of the user relationship remain unaffected. Termination of the user relationship does not affect the validity of other contracts (especially the loan mediation contract, loan agreement, and debt purchase agreement).
8.3 Termination must be made in writing or by email.
Registration on the platform is free of charge.
10. Final Provisions
10.2 Unless otherwise agreed, all statements transmitted within the context of the user agreement concluded with the platform operator are to be made in written form within the meaning of § 126b of the German Civil Code.
[As of: February 14, 2022; Version 1.0]