A user who wants to lend money to other portal users via the portal and participate in the auction as an investor shall submit additional data to the portal administrator for acting as an investor, after his/her registration as the portal user. Among other things, the portal administrator is entitled to request information regarding user's ability to make investment decisions and to understand risks associated with lending. The portal administrator is entitled to refuse from accepting the loan bid or prohibit the user to make a loan bid or use certain type of services, if in the opinion of the portal administrator the user does not have sufficient competence for such activities.

Prior to making a loan bid, the user shall thoroughly examine the general terms and conditions of loan agreements applicable to the loan agreement, and confirm his/her acceptance with these terms and conditions in the manner prescribed by the portal administrator.

General terms and conditions of loan agreements confirmed by the investor become automatically an integral part of the loan agreement to be concluded by the investor as a result of the the auction.

Inter alia, the investor submits the following data in the loan bid about the terms and conditions of the loan that the investor is offering:
  • the loan amount which the investor is willing to lend to the borrower, 
  • the minimum interest rate at which the lender agrees to lend money to the borrower.

The values of the loan amount and interest rate provided in the loan bid must not exceed the limits set for that particular auction. 

While determining the loan bid conditions the investor is limited to the limits and choices defined by the portal administrator.

Before making the loan bid, the investor shall make sure that there are enough available funds on his/her portal account. The investor can make a loan bid only with respect to the unreserved funds available on his/her portal account. The reservation on the investor's portal account in relation with the loan bid remains in effect until the end of the auction, and in case of winning the auction, until the transfer of the reserved amount in accordance with the loan agreement. The investor's portal account is released from the reservation before the end of the auction, if the investor's loan bid falls out of the competition considering other loan bids submitted to the auction.

Before the approval of the loan bid, the investor can reserve a ranking to his/her loan bid at the auction that he/she is interested in, initially setting out only minimum information required in the bid. The reservation is valid for five (5) minutes, during which the investor must confirm his/her bid according to requirements. The amount necessary for making a loan bid is reserved on the investor's portal account at the moment of making the reservation. If the investor has not duly confirmed the loan bid by the end of the term mentioned in this paragraph, the reservation loses its validity and the reservation made on the investor's portal account is cancelled.

By confirming the loan bid, it is deemed that the loan bid has been filed by the investor and it is valid until the end of the respective auction. The investor has no right to withdraw from neither to amend the loan bid submitted to the auction.

A loan bid (including any loan bid created by using the Autoinvest application) is the investor's declaration of intention, i.e. the acceptance for concluding a loan agreement, and in case of winning the auction, the loan agreement is deemed to be automatically concluded between the borrower and the investor as provided in these general terms and conditions.