Terms of Service

Last updated: January 2025

1. Agreement to Terms

By accessing or using HatidAral ("the Platform"), you agree to be bound by these Terms of Service. If you disagree with any part of these terms, you may not access the Platform.

2. Description of Service

HatidAral is a peer-to-peer lending platform that connects borrowers seeking tuition financing with lenders willing to fund educational expenses. We act as a broker and facilitator, not as a bank or lending institution.

3. User Eligibility

To use the Platform, you must:

  • Be at least 18 years old
  • Be a Filipino citizen or legal resident
  • Have a valid government-issued ID
  • Provide accurate and truthful information

4. Borrower Terms

As a borrower, you agree to:

  • Provide truthful information about your identity, income, and financial situation
  • Use funds only for the stated educational purpose
  • Provide post-dated checks as required for all loans
  • Make monthly payments on time as per the agreed schedule
  • Notify us immediately if you cannot make a payment
  • Accept that your guarantor may be contacted if payments are missed

5. Lender Terms

As a lender, you acknowledge that:

  • Lending involves risk, including the risk of default
  • Returns are not guaranteed
  • You are funding at your own discretion based on available information
  • HatidAral facilitates but does not guarantee loan repayment
  • You have reviewed and understood the borrower's profile before funding

6. Fees and Charges

Borrowers are subject to:

  • Processing fee of PHP 1,000 (non-refundable)
  • Service fee of 5% of the tuition amount
  • Interest rate of 12% per annum
  • Late payment fee of 5% per month on overdue amounts

Lenders do not pay any direct fees. Platform commission is calculated from the difference between borrower and lender rates.

7. Default and Collections

In case of payment default, HatidAral reserves the right to:

  • Deposit post-dated checks provided by the borrower
  • Contact the guarantor for payment
  • Pursue legal remedies including barangay conciliation and court action
  • Report to credit bureaus where applicable

8. Limitation of Liability

HatidAral acts as a broker and facilitator. We are not liable for:

  • Borrower default or inability to repay
  • Loss of investment by lenders
  • Delays in school enrollment or processing
  • Accuracy of information provided by users

9. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Any disputes shall be subject to the exclusive jurisdiction of the courts of Metro Manila.

10. Changes to Terms

We reserve the right to modify these Terms at any time. Changes will be effective upon posting to the Platform. Continued use after changes constitutes acceptance of the modified Terms.

11. Contact

For questions about these Terms, contact us at:
Email: support@hatidaral.com