Contract

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  1. PARTIES TO THE AGREEMENT

MediCredit OÜ, registry code: 12533115, address: Pärnu mnt 67a, Tallinn, 10134, Harju County, represented by the member of the management board Andre Liplik,

and

Client – ………………………….., personal ID code: …………………………………, place of residence: ………………………….,

have entered into a consumer loan agreement for specific purposes (hereinafter the Agreement) and have agreed as follows:

  1. DEFINITIONS

 

  • The “amount of loan” or “loan” means the amount lent by MediCredit to the Client for financing the health service provided by the medical institution according to the Agreement. Before the payment of the amount of loan, MediCredit shall make a decision on the payment of the loan.
  • “Loan calculator” means the calculator located on the website of MediCredit according to which the Client may calculate the amount of loan which he or she wishes to borrow from MediCredit and which the Client undertakes to repay according the present Agreement and the Client’s personal payment schedule drawn on the basis thereof. If the Client has found a suitable loan with the help of the loan calculator, he or she may submit a loan application according to the Agreement.
  • “Payment terms” mean the dates specified in the payment schedule on which the Client must have returned the respective part of the amount of loan and interest to MediCredit i.e on which the Client shall execute the monthly payment specified in the payment schedule.
  • “Loan offer” means the personal loan offer made by MediCredit to the Client based on the amount of loan requested by the Client and the Client’s creditworthiness. The loan offer shall be forwarded to the Client after the submission of a loan application.
  • “Loan decision” means a decision by which MediCredit decides whether or not to enter into an Agreement with the Client and issue the amount of loan. MediCredit may also refuse to make a loan decision requested by the Client by giving its reasons. In both cases MediCredit shall notify the Client of its decision. The loan decision made by MediCredit may be included in the loan offer or it may be an individual document.
  • “Loan applicant” means a natural person who has submitted a loan application to MediCredit. The person has either completed a relevant loan application form at a medical institution or submitted a loan application through MediCredit website. The loan applicant becomes a Client after MediCredit has made a positive loan decision.
  • “Loan application” means the loan applicant’s request for the receipt of the amount of loan which the loan applicant sends to MediCredit whether as an application bearing his or her handwritten signature or through MediCredit website.
  • “Payment schedule” means the personal repayment schedule of the loan and interest by instalments drawn and forwarded to the Client by MediCredit based on the Agreement. The payment schedule sets out the amount of loan, interest, monthly payment and the total amount of loan and interest. The payment schedule forms an integral part of the Agreement.
  • “Monthly payment” means the loan instalment composed of the amount of loan and interest which has been specified in the payment schedule. The amount of loan and interest are divided into monthly payments according to the Client’s loan application and/other loan offer submitted by MediCredit.
  • “Interest” means an interest for the purposes of the Law of Obligations Acts, the amount and percentage of which from the amount of loan has been indicated as an example for most loan amounts on the MediCredit website under the section of loan products. If the loan requested by the Client is not reflected in the table of loan products located on MediCredit website or does not derive from the loan calculator, MediCredit shall make a personal loan offer to the Client.
  • “Standard European consumer credit information form” means an information form which gives an overview to the loan applicant concerning the costs and obligations arising from the use of financial services.
  • “Agreement” means the present consumer loan agreement for specific purposes together with all the annexes thereto.
  • “Party” or the “Parties” mean MediCredit and the Client separately or together.
  • “Business day” means a calendar day from Monday to Friday except for public holidays.
  • “Website” means the MediCredit internet homepage at medicredit.ee.
  • “Client” means the recipient of loan i.e a natural person who has filed a loan application and to whom MediCredit has paid the amount of loan and who undertakes to repay the loan according to the Agreement and the payment schedule.
  • “Lender” means the legal person MediCredit OÜ (registry code: 12533115, seat: Pärnu mnt. 67a Tallinn, Harju County 10134), whose area of activity is the provision of financial services.
  • “Medical institution” means a medical institution providing dental care, prosthetic dentistry or other dental care services, a medical institution providing surgery services, an animal clinic or a medical institution providing other services who is the cooperation partner of MediCredit OÜ and who provides the identity establishment service on the basis of a cooperation contract entered into with MediCredit, who accepts the loan applications and to whom MediCredit issues the amount of loan at the Client’s request. The list of medical institutions who are the cooperation partners of MediCredit OÜ has been published on the MediCredit website. A medical institution is not a party to this Agreement. The name, contacts and other information relating to the medical institution have been set out in the loan application.

 

  1. LOAN APPLICATION AND ENTRY INTO THE AGREEMENT

 

  • After submission of the loan application and before signing of the Agreement and the payment schedule, the loan applicant must establish his or her identity on the basis of an identity document at the medical institution being the cooperation partner of MediCredit or at the MediCredit office. An identity document is the passport of the Republic of Estonia, ID-card or driver’s licence issued in Estonia. The identity document according to which the identity of the loan applicant is established must be valid. The loan applicant shall be liable for the correctness of his or her data.
  • The medical institution who has established the identity of the loan applicant shall make a copy of the loan applicant’s identity document on the appropriate form and shall forward the respective copy to MediCredit.
  • The loan applicant shall submit a loan application to MediCredit for the receipt of a loan. The loan applicant must be at least 21 years of age in order to apply for a loan. The loan applicant has two (2) possibilities for filing a loan application:
  • The recipient of loan enters his or her data on the registration form located on MediCredit website, examines and confirms that he or she consents with the conditions of the Agreement and files an electronic loan application. In case MediCredit makes a positive loan decision, MediCredit shall send the Agreement and personal payment schedule to the Client’s e-mail address for the Client to digitally sign. MediCredit shall also send to the Client the standard European consumer credit information form.
  • The recipient of loan establishes his or her identity, examines and signs the Agreement and completes and signs in handwriting the loan application at a medical institution. In case MediCredit makes a positive loan decision or a loan offer, MediCredit shall send the Agreement and payment schedule for signing to the Client, whether by e-mail or regular mail depending on the Client’s request. MediCredit shall also send to the Client the standard European consumer credit information form.
    • The amount of loan requested by the Client and the loan repayment period must conform to the loans offered by MediCredit. MediCredit issues loans which derive from the loan calculator located on MediCredit website and/or the table of loan products. The maximum amount of loans issued by MediCredit is 6000 euros with the term of up to 4 years.
    • After the applicant has submitted a loan application to MediCredit, the latter shall assess the loan applicant’s creditworthiness based on the bank statement of six (6) calendar months submitted by the loan applicant or based on other public information and/or information submitted by the loan applicant. With the submission on the loan application, the loan applicant gives MediCredit his or her consent to make enquiries to public registers and databases concerning the loan applicant.
    • MediCredit shall have the right not to pay the amount of loan if after the submission of a loan application it appears that:
  • The information concerning the loan applicant, his or her solvency or other facts submitted by the loan applicant to MediCredit is incorrect;
  • The financial situation of the loan applicant has deteriorated in such way that the repayment of the amount of loan as required is at risk according to the assessment of MediCredit, and also if the loan applicant has become insolvent;
  • According to the data entered in public registers, the loan applicant has obligations to third persons which have not been performed as required;
  • Enforcement proceedings have been commenced with regard to the loan applicant.

If the above circumstances have become known to MediCredit, the latter shall promptly notify the loan applicant of the decision not to satisfy the loan application.

  • If MediCredit decides to satisfy the loan applicant’s loan application, the loan applicant shall be notified of the loan decision by e-mail no later than within twenty-four (24) hours after submission of the loan application. If MediCredit finds that the amount of loan requested by the loan applicant and the term of repayment of the loan are not in compliance with the loan applicant’s creditworthiness, MediCredit may make its own loan offer. If the loan applicant accepts the loan offer made by MediCredit, he or she shall promptly notify MediCredit thereof by e-mail.
  • Submission of a loan application to MediCredit does not oblige MediCredit to sign the Agreement or issue the amount of loan. If MediCredit decides not to satisfy the loan applicant’s loan application, MediCredit shall promptly notify the loan applicant of the loan decision by specifying the reason for not satisfying the loan application. The loan decision shall be sent to the loan applicant’s e-mail address specified by the loan applicant.
  • If the loan applicant does not accept the loan offer made by MediCredit specified in clause 3.7 or does not notify MediCredit of acceptance of the loan offer within three (3) calendar days, the loan applicant’s loan application shall be deemed to be not satisfied and MediCredit shall not make the payment of the amount of loan to the medical institution.
  • The loan agreement shall be deemed to be entered into after payment of the amount of loan by MediCredit to the medical institution.

 

  1. PAYMENT OF THE AMOUNT OF LOAN AND PAYMENT SCHEDULE

 

  • The amount of loan applied for by the Client shall be paid by MediCredit directly to the medical institution providing the health service. If necessary, the medical institution or the Client may forward to MediCredit the advance payment invoice or the invoice for the health service provided to the Client in order to facilitate the payment to the medical institution. The amount of loan shall be paid without any additional arrangements by the Client no later than within three (3) business days.
  • After making of a positive loan decision or acceptance of a loan offer by the Client, MediCredit shall draw a personal payment schedule for the Client based on the Client’s loan application and/or the loan offer made by MediCredit. The payment schedule specifies the amount of loan, interest, monthly payment, repayment dates of the amount of loan, total amount of loan and interest and the contacts and bank requisite information of MediCredit.
  • The payment schedule drawn for the Client accompanied with the Agreement shall be sent by MediCredit to the Client whether by e-mail, regular post or through the medical institution. The Client shall confirm his or her acceptance of the payment schedule and the receipt thereof and shall sign the payment schedule and the Agreement either digitally and forward the Agreement and the payment schedule to MediCredit by e-mail, or in handwriting on paper and forward it to MediCredit through the medical institution or by hand delivery or by bringing it personally to MediCredit office but not later than within three (3) business days after receipt of the Agreement and the payment schedule.
  • If the Client has not received the Agreement and the payment schedule within three (3) business days, the Client shall be required to notify MediCredit thereof immediately.
  • The Client shall be required to return the loan and pay interest according to the payment schedule drawn by MediCredit. The monthly payments due to be paid by the Client shall be deemed to be paid in time if the respective amount has been received on Medicredit account indicated on the website and in the payment schedule by the term specified in the payment schedule. The maximum period for the return of the loan and payment of interest shall be 4 years. The period for the return of the loan and the respective interest rate and the amount thereof shall be agreed with the Client individually in the payment schedule.
  • If the Client fails to pay the monthly payments of the loan by the terms agreed on in the payment schedule, MediCredit shall have the right to demand penalty for late payment from the Client according to clause 7.1 of the Agreement. If the Client is in delay with the payment of three or more instalments specified in the payment schedule, MediCredit shall have the right to cancel the Agreement prematurely according to clause 8 of the Agreement and demand the payment of the total amount of loan and interest owed by the Client.
  • During the validity of the Agreement the Client shall have the right to request MediCredit to forward the certified copy of the Agreement, payment schedule or any other annex to the Agreement.

 

  1. INTEREST

 

  • The Client undertakes to pay the amount of loan and interest by the monthly payment terms specified in the payment schedule. The amount of interest depends on the size of the amount of loan and the period for the repayment of loan. Interest shall be paid separately for each amount of loan which the Client has applied for and received. The general principles of calculation of MediCredit interest are as follows: interest shall be calculated from the remaining loan amount, the contribution is 0 %, there is no agreement fee and payment is executed by monthly annuity payments. The interest, interest rate and the annual percentage rate have been indicated in the standard European consumer credit information form.
  • The amount of interest and the interest rate shall be agreed in the personal payment schedule drawn for the Client. The amount of interest, interest rate and the annual percentage rate of charge have also been specified in the standard European consumer credit information form and in case the Client has applied for an amount of loan indicated in the table of loan products on MediCredit website, the amount of interest and rate can also be seen in the table of loan products.

 

  1. WITHDRAWAL FROM THE AGREEMENT AND EARLY REPAYMENT

 

  • The Client may withdraw from the Agreement by making a respective withdrawal application within fourteen (14) calendar days after entry into the Agreement. Upon withdrawal from the Agreement, the Client and/or the medical institution, at the request of the Client, shall promptly but not later than after 30 days, return to MediCredit the amount of loan and the agreed interest for the period during which the amount of loan was lent to the Client.
  • The application for withdrawal from the Agreement specified above shall be sent to the MediCredit e-mail address. MediCredit shall respond to the Client’s application for withdrawal from the Agreement immediately but not later than within three (3) business days by specifying the amount of loan and interest to be paid, the interest calculation and interest per one day.
  • If the Client withdraws from an agreement entered into with the medical institution or any other agreement for the financing of which MediCredit has granted a loan to the Client and has paid the respective amount of loan to the medical institution, the Parties shall guide from clauses 6.1 and 6.2 of the Agreement upon withdrawal from the loan agreement and the return of the amount of loan and interest.
  • If the Client and the medical institution fail to reach an agreement concerning the withdrawal from an agreement for the provision of health services or any other agreement between the medical institution and the Client and the return of the amount of loan and interest to MediCredit, the Client shall pay the amount of loan and interest according to the instalments and terms agreed on in the Agreement and the payment schedule.
  • The Client shall have the right to repay the loan early. Upon early repayment of the loan, the Client shall repay the loan together with the compensation in the amount of 0.5% of the amount of loan if the period for the return of the loan is up to one (1) year and in the amount of 1 % of the amount of loan if the period for the return of the loan is longer than one (1) year. The Client shall promptly notify Medicredit by e-mail of his or her wish to repay the loan early. MediCredit shall respond to the given notice immediately but not later than within three (3) business days and shall specify the amount of compensation and the basis for the calculation thereof in its reply.

 

  1. PENALTY FOR LATE PAYMENT AND ORDER OF PAYMENTS

 

  • If the Client fails to pay the monthly payment by the term of the monthly payment specified in the payment schedule, the Client shall be required to pay penalty for late payment to MediCredit in the amount of 0.3% of the amount due per each day in delay. The calculation of penalty for late payment shall start on the next calendar day following the term of the monthly payment and terminates on the date of receipt of the outstanding monthly payment on the account of MediCredit.
  • The Client who owes MediCredit penalty for late payment shall be required to contact MediCredit before the payment of debt in order to establish the amount of penalty for late payment due to be paid as of the specific date. If the Client has failed to contact MediCredit to pay the due penalty for late payment, MediCredit shall, after fourteen (14) calendar days, send a debt notice to the Client, specifying the amount of the outstanding monthly payment, amount of penalty for late payment and the basis for the calculation thereof.
  • Upon reasoned request by the Client, MediCredit may reduce the penalty for late payment due to be paid by the Client.
  • If the amounts paid by the Client within the framework of this Agreement are not sufficient for the performance of all the obligations which have fallen due, the payment executed by the Client is deemed to discharge first the owed amount of loan, then the interest due and finally the penalty for late payment.

 

  1. CANCELLATION OF THE AGREEMENT BY THE LENDER

 

  • If the Client is in delay with the payment of three (3) or more monthly payments specified in the payment schedule, MediCredit shall send an application to the e-mail address of the Client specified in the Agreement by which MediCredit gives an additional term of fourteen (14) calendar days to the Client for the payment of the monthly payments due and penalty for late payment or for the conclusion of an additional agreement with MediCredit for the payment of debt.
  • The grant of an additional term by MediCredit does not release the Client from the payment of penalty for late payment.
  • If the Client wishes to enter into an additional agreement for the payment of debt with MediCredit specified in clause 8.1 of the Agreement, he or she shall respond to the application of MediCredit immediately but not later than within three (3) business days after sending of the application.
  • An additional agreement for the payment of debt shall be drawn as an annex to this Agreement and shall be signed by both Parties.
  • If the Client fails to pay the amount due to MediCredit within the additional term or if the Client and MediCredit fail to reach an agreement on the payment of debt or the Client does not adhere to the agreement on the payment of debt as required, MediCredit shall have the right to cancel the Agreement prematurely and require the payment of the owed amount of loan, interest and the accrued penalty for late payment.

 

  1. CONFIRMATIONS OF THE PARTIES

 

  • By signing the present Agreement the Client confirms that:
    • He or she is fully responsible for the loan applications submitted in his or her name through any identification possibilities and agrees that all the respective loan applications shall be deemed to be submitted by and on behalf of the Client.
    • He or she grants MediCredit the consent to forward the information related to the person of the Client (name, date of birth) and the debt (date of occurrence and amount of the payment default) for publishing as a payment default to AS Krediidiinfo after 30 days have passed since the occurrence of debt.
    • He or she is aware of the fact that upon the occurrence of debt, MediCredit has the right to cancel the Agreement prematurely according to clause 8 of the Agreement and if the Parties fail to reach an agreement with regard to the debt and/or the Client fails to pay the debt within the additional term, MediCredit shall have the right to turn to court to claim the debt.
    • He or she is aware of the fact that if the medical institution or the Client him or herself sends an invoice to MediCredit for the payment of the amount of loan to the medical institution according to the Agreement and the annexes thereto, the invoice sent to MediCredit contains sensitive personal data.
    • He or she gives MediCredit the consent to process sensitive personal data specified in clause 9.1.4 according to the Personal Data Protection Act.
    • He or she shall enable MediCredit to verify his or her creditworthiness until the full performance of obligations arising from the Agreement by transferring his or her bank statements, at the request of MediCredit, upon first opportunity but not later than within three (3) business days after receipt of the request by MediCredit.
    • He or she is aware of the fact that MediCredit has the right to encumber its claim against the Client with a right of security until full satisfaction of the claim (until full repayment of the Loan Amount).
    • He or she is aware that with the submission of the loan application he or she grants MediCredit the consent to make enquiries to public registers and databases with regard to him or herself.
    • He or she is aware of his or her obligation to notify MediCredit within five (5) business days of every circumstance which deteriorates or may deteriorate his or her solvency and/or financial situation, and of any existing difficulties or difficulties which may arise upon the performance of obligations arising from the Agreement, and of every bankruptcy and/or enforcement proceeding initiated towards the Client. If any of the above circumstances become apparent, the Client shall be required to notify Medicredit thereof immediately and conclude additional agreements for the return of debt at the request of MediCredit.
    • Submission of the loan application and entry into the Agreement are not caused by the difficult financial situation of the Client, extraordinary necessity, relationship of dependency, inexperience or any other such circumstance.
    • He or she fully understands the content and extent of obligations arising from the Agreement and entry into the Agreement is his or her free will which has not been influenced by MediCredit or any other person.
    • He or she has read the Agreement, fully understands the content thereof and agrees to all the conditions of the Agreement.

 

  • By signing the present Agreement MediCredit confirms that:
    • It shall process the Client’s personal data and sensitive personal data which have become known to Medicredit with extreme care pursuant to the Personal Data Protection Act and other relevant legislation.
    • It shall not disclose any data concerning the Client which have become known to MediCredit upon entry into and the performance of this Agreement to third persons except in the cases provided for in clauses 9.1.2 and 9.1.3 of the Agreement and if the disclosure of data has been prescribed in the applicable legislation.

 

  1. FINAL PROVISIONS

 

  • The Agreement enters into force at the time it is deemed to be entered into according to clause 3.10 of the Agreement. The Agreement is valid until the performance of all obligations of the Parties arising from the Agreement.
  • All notices relating to the Agreement shall be exchanged between the Parties in Estonian in a format which can be reproduced in writing and shall be delivered to the postal address or e-mail address specified in the Agreement or any other address which a Party has notified to the other Party in a written format. Upon delivery of notices by registered mail, a notice shall be deemed to be delivered five (5) calendar days after posting the notice. Upon delivery of notices by e-mail, a notice shall be deemed to be delivered one (1) calendar day after sending the notice.
  • The Client shall always have the right, as to the compliance of this Agreement and the annexes thereto, to turn to a competent supervisory agency which is the Consumer Protection Board (Rahukohtu 2, 10130 Tallinn, ESTONIA).
  • All the disputes arising from the Agreement shall be attempted to be resolved extrajudicially by an agreement between the Parties. In order to come to an extrajudicial agreement, the Client shall have the right to turn to the Consumer Disputes Committee at the Consumer Protection Board. Upon failure to reach an agreement, disputes shall be resolved in Harju County Court.
  • With their signatures on the present Agreement the Parties confirm that the information submitted thereon in this Agreement is true and correct, the conditions of the Agreement correspond to their will and that they are entitled to enter into and sign this Agreement.

 

 

 

  1. DOCUMENTS OF THE AGREEMENT

 

  • The documents of the Agreement include this Agreement, Annexes to the Agreement and any amendments to the Agreement which may be agreed on after entry into the Agreement.
  • The following annexes to the Agreement have been added to the Agreement upon entry into the Agreement:
    • Annex 1 – Payment schedule
    • Annex 2 – Standard European Consumer Credit Information form