In these Terms and Conditions (“T&Cs”), the following words and phrases shall bear the following meanings, unless otherwise stated or where inconsistent with the context in which they appear, and cognate terms and expressions shall bear corresponding meanings:
- “Account” means an account with IDF CAPITAL which entitles a Registered User to access online services and engage in transactions on this website;
- “Applicant” means a Registered User authorised to submit loan applications to Lenders using the loan facilitation platform on the Website;
- “Content” includes but is not limited to text, graphics, user interfaces, visual interfaces, photographs, trademarks, logos, sounds, music, artwork and computer code on or associated with the Website;
- “IDF Capital” means Identity Development Fund Managers (Pty) Ltd (trading as IDF Capital), registration no. 2007/015830/07;
- “Lender” means a Registered User authorised to approve loan applications of Applicants using the loan facilitation platform on the Website;
- “Loan Facilitation” means the process by which IDF Capital will facilitate a match making service between Applicants and Lender;
- “Loan” means the process by which the Lender borrows money to the Applicant;
- “Registered User” means a person who has an Account as contemplated in clause 8 below;
- “T&Cs” means the Terms and Conditions recorded on this page and which are applicable to the use of Website and all matters associated and incidental or related thereto;
- “User” means a Visitor or a Registered User;
- “Visitor” means any person making use of this website that is not a Registered User; and
- “Website” means www.idf.co.za;
2. WEBSITE OWNERSHIP AND T&Cs APPLICATION
- IDF Capital is the lawful, beneficial, sole and exclusive owner of the Website.
- These T&Cs are by IDF Capital and apply to the Website and all associated sites linked thereto.
3. AGREEMENT TO T&Cs
- By using this Website the User agrees to the T&Cs contained herein, provided that if such User does not so agree then that User hereby undertakes not to use the Website.
- Use of the Website, or the representation of use, on behalf of a third party by a User shall bind such third party to these T&Cs and the User hereby guarantees that it/he/she is duly authorised to so bind the said third party.
- IDF Capital owns, controls and holds the license to all Content on the Website, which content is protected by intellectual property rights and competition laws.
- No part of the Website or the Content thereon may be copied, reproduced, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted or distributed in any way (including ‘mirroring’) to any other computer, server, website or other medium for publication or distribution or for any commercial enterprise, without IDF Capital’s express prior written consent unless otherwise provided elsewhere in these T&Cs.
Users may only use information (and copies thereof) from the Website on products and services (such as data sheets, knowledge base articles, and similar materials) made available by IDF Capital for purposes of downloading, provided that the Users shall:
- include all necessary proprietary rights notices in all copies of said information;
- use such information for personal, non-commercial and informational purposes only;
- not broadcast, copy or post such information on any networked computer or in any media;
- not in any way whatsoever modify such information or any part thereof; and
- not make any additional representations or warranties relating to such information.
5. USE OF WEBSITE
- IDF Capital hereby reserves the right to block any prohibited activity.
Users are prohibited from:
using any “deep-link”, “page-scrape”, “robot”, “spider” or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to:
- access, acquire, copy or monitor the website or any part thereof or the content;
- reproduce or circumvent the navigational structure or presentation of the Website or the Content in any way; and
- obtain or attempt to obtain, in an unauthorised manner, any materials, documents or information;
- gaining unauthorised access to any aspect or feature of the website, any systems or networks connected thereto, IDF Capital server, or any services offered on or through the website, by hacking, password ‘mining’ or any other unlawful means;
- probing, scanning or testing the vulnerability of the Website or any network connected thereto;
- breaching security or authentication measures on the Website or any network connected thereto;
- conducting ‘reverse look-up’, tracing or seeking to trace any information on any User, Visitor or any other IDF Capital customer (including any account not owned by such User), to its source, or exploit the Website or any service or information made available or offered by or through the Website, in any way;
- doing anything or causing anything to be done that imposes an unreasonable or disproportionately large load on the infrastructure of the Website or IDF Capital systems or networks, or any systems or networks connected to the Website or IDF Capital;
- using any device, software or routine to interfere or attempt to interfere with the proper working of the Website or any transaction being conducted on the Website, or with any other person’s use of the Website;
- forging headers or otherwise manipulating identifiers in order to disguise the origin of any message or transmittal sent to IDF Capital on or through the Website or any service offered on or through the Website;
- misrepresenting its/his/her identity, or fraudulently claiming to represent a third party, or impersonating any other individual or entity; and
- using the Website or any Content for any purpose that is unlawful or prohibited by these T&Cs, or soliciting the performance of any unlawful activity or other activity which infringes the rights of IDF Capital, its Users or any third parties.
- All personal data saved by IDF Capital is protected against unauthorised access and misuse, through implementation of technical and organisational measures.
- Services offered on or through the Website require a User to open an account (which includes setting up an IDF Capital username and password). The scope of services includes the assessment of loan applications, granting or rejecting loans.
- On application for an Account, the User authorises IDF Capital and its duly authorised verification agent to forward personal information, including but not limited to such User’s name, surname, identity or registration number, to verification suppliers acting on behalf of IDF Capital (including any credit bureau and fraud prevention organisation) for the purposes of conducting all verification checks (including but not limited to credit bureau searches). The User further authorises the duly authorised verification agent to furnish any information regarding credentials to IDF Capital. Moreover, the User unconditionally indemnifies IDF Capital and its duly authorised verification agent against any liability which results or may result from furnishing information in this regard. The User is solely responsible for maintaining the confidentiality of such User’s account information, including the username, password, and any and all activity that occurs under such account.
- The User agrees to notify IDF Capital of any unauthorised use of its/his/her account or password and any other breach of security immediately. Nevertheless, the User may be held liable for losses incurred IDF Capital or any other User due to any third party using the first mentioned User’s IDF Capital username, password or account.
- No User may use the IDF Capital username, password or account of any third party at any time without the express written permission and consent of that third party.
- IDF Capital shall under no circumstances be liable for any loss or damage arising from a User’s failure to comply with these obligations.
8. LOAN FACILITATION PROCESS
- A User making an Application on behalf of an Applicant must be authorised to do so.
- An Applicant may apply for a loan using their Account. An Applicant will be required to complete a loan application process by accessing its/his/her Account and submitting an application form with all the required information, in order to apply for a loan.
- All applications made by an Applicant must be completed within 14 days. Any applications not completed within a 14 day period will be void and removed from the IDF Capital system. Any Applicant who has not completed its/his/her application and such application has been removed from the IDF Capital system, such applicant will have to make a new application.
- IDF Capital will conduct the necessary due diligence and will provide one or more Lenders with the submitted loan application and the results of the due diligence. A Lender has the discretion to advance or deny the loan application of any Applicant.
- Applications are managed by the Lenders through the Account. A Lender is required to complete a loan approval process by accessing the Account and confirming approval of the loan application and the terms and conditions for such loan, in order to approve any loan.
- Where a loan application is approved, IDF Capital will make the loan agreement available for signature in the Accounts of the Applicant and the relevant Lender/s.
- A loan agreement will only be finalised between an Applicant and the relevant Lender/s when all the terms of the loan agreement have been determined and the loan agreement has been signed by all the parties concerned.
- Where a loan application is rejected by a Lender, IDF Capital will inform the Applicant of the rejection, and where there are specific grounds for this rejection, IDF Capital will, in its sole discretion, provide the Applicant with the reasons why the loan application was rejected.
9. DISCLAIMER AND LIMITATION OF LIABILITY
- IDF Capital does not warrant nor guarantee that the Website or any Content, service or feature thereof will be error-free or uninterrupted, or that any defects will be corrected, nor that use of the Website will provide specific results.
- IDF Capital cannot guarantee to supply the service in the event of the failure or interruption of services provided by third parties
- It is specifically recorded and notified that activation of an Account does not mean that a loan between any Applicant and any Lender will be approved.
- IDF Capital hereby disclaims any and all liability for acts, omissions and conduct of any the Users, Applicants or Lenders in connection with or related to the use of an Account, and in respect of any information provided by Users on registration and by, Applicants and Lenders during a loan facilitation process.
- The Website and Content are delivered on an “as-is” and “as-available” basis.
- All information provided on the Website is subject to change and/or modification without notice.
- IDF Capital does not ensure that any files or other data downloaded from the Website will be free of viruses or contamination or destructive features and shall therefore not be liable in the event that it is.
- IDF Capital disclaims all warranties, express or implied, including any warranties of accuracy, non-infringement, merchantability and fitness for a particular purpose.
- IDF Capital disclaims any and all liability for the acts, omissions and conduct of any third party in connection with or related to use of the Website and/or any other services.
- The Users assume sole responsibility for use of the Website and any linked Websites. All Users agree that ceasing to use the Website shall be the only remedy any User shall have against IDF Capital, in the event of any dissatisfaction with the Website or any Content thereon.
- The disclaimer recorded above applies to any damages, liability or injuries caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction of or unauthorized access to, alteration of, or use, whether for breach of contract, delict, negligence or any other cause of action.
- The applicant shall bear sole responsibility for ensuring the accuracy of the applicant’s details supplied to IDF Capital.
- The Applicant shall ensure that all material information is disclosed to the Lender prior to any assessment being made by the Lender.
10. DATA PRIVACY
- On visit to the Website, the web server temporarily records the following information for system security purposes: the domain name or IP address of the computer requesting access, the access date, the client’s file request (file name and URL), the HTTP response code and the website visited from, as well as the number of bytes transferred over the connection.
- User data is used solely for the specific purposes of providing services on the Website, for technical Website administration and to meet User wishes and requirements. Nonetheless, IDF Capital may disclose certain confidential information of an Applicant as and when necessary to comply with statutory obligations and to conduct the loan facilitation processes.
- IDF Capital shall use User data for product-related surveys or marketing purposes only with the express consent of the relevant User, and even then only to the extent necessary for such specific instance.
IDF Capital may disclose any information of a User including the identity of and the transactions performed by such User on the Website, the username and account details, where it is determined that such disclosure is necessary:
- in connection with any transaction a User has authorised on the Website;
- in connection with any investigation or complaint regarding a User’s use of the Website; or
- to identify, contact or bring legal action against any person who may be causing injury to or interference with (either intentionally or unintentionally) IDF Capital’s rights or property, or the rights or property the Users of the Website.
- The right to disclose any information that IDF Capital deems necessary to comply with any applicable law, regulation, legal process or governmental request is at all times reserved.
- IDF Capital may further disclose any information if it determines that applicable law requires or permits such disclosure, including exchanging information with other companies and organisations for fraud protection purposes.
The Users acknowledge and agree that IDF Capital may preserve any transmittal or communication through the Website or any service offered on or through the Website, and may also disclose such data if required to do so by law or where it is determined that such preservation or disclosure is reasonably necessary to:
- comply with legal process;
- enforce these T&Cs;
- respond to claims that any such data violates the rights of third parties;
- protect the rights, property or personal safety of IDF Capital, its employees, Users of or Visitors to the Website and the public at large.
- IDF Capital employees are required to maintain strict confidentiality.
- IDF Capital shall not be liable for any indirect, consequential, exemplary, incidental or punitive damages, including lost profits of any User, even if advised of the possibility of such damages.
- Notwithstanding any other provision contained herein, where IDF Capital is found liable for any damage or loss arising out of or in any way connected with the use of the Website or any Content, IDF Capital’s liability shall not under any circumstance exceed R50 (fifty rand).
At any time, and without prior notice, IDF Capital reserves the right to:
- to modify, suspend or terminate operation of or access to the entire or any portion of the Website, for any reason;
- to modify or change the entire or any portion of the Website and any applicable policies or terms; and
- to interrupt the operation of the entire or any portion of the Website, as necessary to perform routine or non-routine maintenance, error correction, or other changes.
- The User agrees that IDF Capital may terminate its/his/her access to the Website or block future access to the Website if it is determined that such User has violated these T&Cs or other agreements associated with use of the Website, in its sole discretion and without prior notice.
- The User further agrees that any violation of these T&Cs will constitute an unlawful and unfair business practice that will cause irreparable harm to IDF Capital, for which monetary damages would be inadequate, and the User consents to IDF Capital obtaining any interdict or other relief deemed necessary or appropriate in such circumstances. The aforesaid remedies are in addition to any other remedies IDF Capital may have at law or in equity.
The User agrees that IDF Capital may terminate access to the Website for any cause, in its sole discretion and without prior notice, which cause may include (but is not limited to):
- requests by law enforcement or other government agencies;
- a request by the User (self-initiated account deletions);
- discontinuance or material modification of the Website or any service offered on or through the Website; or
- unexpected technical errors or other problems.
- The User agrees that IDF Capital will not be liable to the User or any third party for termination of access to the Website as a result of any violation of these T&Cs.
14. JURISDICTION AND DISPUTE RESOLUTION
- The parties shall attempt, promptly and in good faith, to resolve any dispute in the event of any such dispute arising out of or in connection with the use of the Website.
- Where the dispute cannot be resolved amicably within 30 (thirty) days, then either party may submit the dispute to mediation. If the dispute cannot be resolved through mediation, then the parties shall be free to pursue any right or remedy available to them under applicable law.
- All matters relating to access to or use of the Website, including all disputes, will be governed by the laws of the Republic of South Africa.
- The parties agree to the jurisdiction of the High Court of South Africa, South Gauteng Division.
- The User may not seek to recover or receive damages other than out-of-pocket expenses, provided that the User shall be entitled to costs. Where IDF Capital institutes any legal action against a User following violation of these T&Cs, IDF Capital shall be entitled to recover from the User, which User hereby agrees to pay, all reasonable attorneys’ fees and costs of such action, in addition to any other relief granted in favour of IDF Capital.