LOAN AGREEMENT

№ 2001920037

KNOW ALL MEN BY THESE PRESENTS:

This LOAN AGREEMENT (the “AGREEMENT”) made and entered into on the date and at the
place herein below:

BETWEEN : FLEXI FINANCE ASIA Inc., a company existing and organized

under and by virtue of the laws of the Republic of the Philippines, with principal
office at 3rd floor, CIFC Tower, Juan Luna Avenue Extension, Cebu City, Philippines,
operating as a financing company under the Certificate of Authority No. 1104,
represented at this instance by its president Ladislav Muller, hereinafter referred
to us the “LENDER”;

AND : Cherry Francisco Queque, of legal age, Filipino, and resident

of san roque street ROXAS CITY (Capital), CAPIZ 5800 Filipino, hereinafter referred
to as the “CLIENT”;

RECITALS:

WHEREAS, the LENDER is willing to provide a loan to the CLIENT purposedly used for the
payment of the price of the goods or services which the CLIENT wishes to purchase;

WHEREAS, the CLIENT is wishing to pay for his/her purchase by his/her own funds (hereinafter
referred to us the “DOWNPAYMENT”) and by funds of the LENDER and for this purpose he/she has applied
at the LENDER for the loan and which the LENDER has approved;

WHEREAS, the CLIENT is giving the LENDER an order to disburse the loan directly to the
MERCHANT together with his/her own funds;

WHEREAS, the CLIENT is willing to repay the loan in multiple consecutive payments to the
LENDER in the size and at the dates as they are declared by the payment schedule in this AGREEMENT;

NOW THEREFORE, for and in consideration of the foregoing premises and the covenants
hereinafter stipulated, the parties hereby agree as follows

A. GENERAL CONDITIONS

1. The CLIENT declares his intention to purchase goods or services worth thirteen thousands nine
hundred ninety nine pesos zero sentimos (13,999.00) in the store operated by JLZ GADGETS PH.
2. The CLIENT has decided to finance this purchase partially by DOWNPAYMENT equalling to five
thousands five hundred ninety nine (5,599.00).
3. The LENDER is providing the CLIENT with the loan equal to eight thousands four hundred
(8,400.00) Philippine pesos which is purposedly intended for the financing of the outstanding
value of the purchase.
4. Parties agreed that at the date of this AGREEMENT the CLIENT will give the DOWNPAYMENT and
the processing fee to the MERCHANT who shall keep the same for the LENDER while the difference
between the full price and the down-payment and the processing fee will be paid by the LENDER
directly in favor of MERCHANT.
5. The processing of the AGREEMENT and subsequent transactions is subject to the processing fee of
5% from the loan amount in this case representing four hundred twenty pesos zero sentimos
(420.00) and is payable by the CLIENT to the LENDER at the date of signature of this AGREEMENT.
6. The CLIENT agrees that the LENDER will be charging interest on the loan by using the interest rate
one hundred sixty nine per cent (169%) per annum throughout the entire term of this AGREEMENT
and will do so on the outstanding principal only and by using 30/360 day-count convention.
7. In addition to the above provision, the CLIENT agrees to avail and be charged for the additional
service package offered by the LENDER containing payment schedule watch dog, SMS notification
of the outstanding balance, early pre-termination with no additional charges, one entry to lottery
and win loan for absolutely free, entry to VIP program of Flexi Finance, exclusive access to
discounts and offers of Flexi Finance and its partners, life insurance coverage (optional subject to
CLIENT’s preference). Cost of service package is ninety nine (99.00) Philippine pesos and is
included in every payment becoming due together with the particular payment or cumulatively
when pre-terminated.
8. If the CLIENT opts to avail of the free life insurance coverage, he/she should expressly
communicate such intention to the LENDER or its authorized representative and strictly comply
with the documentary requirements needed for that purpose.
9. It is also understood that in case CLIENT files an insurance claim, the same shall be submitted to

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the insurance provider for approval. Pending approval of the claim, the CLIENT shall continue to
pay the service package in the amount above-stated.
10. The loan inclusive of service charge will be repaid by the CLIENT in six (6) consecutive payments
according to the following payment schedule:

Recommended
No. Due Date Payment
Payment Date
1 02.03.2022 2,264.05 27.02.2022
2 02.04.2022 2,264.05 30.03.2022
3 02.05.2022 2,264.05 29.04.2022
4 02.06.2022 2,264.05 30.05.2022
5 02.07.2022 2,264.05 29.06.2022
6 02.08.2022 2,264.09 30.07.2022
Currency Philippine peso

11. The interest is being charged since the next day following the date of this AGREEMENT until the
day when the principal is fully repaid. If the principal is fully repaid at the same day as this
AGREEMENT was signed, the CLIENT is due to pay one-day interest charge (considering the
applied day-count convention).
12. The amount to be financed equals to (8,400.00) with the finance charge of five thousands six
hundred four pesos thirty four sentimos (5,604.34).
13. Simple annual rate is two hundred four point five tenths per cent (204.50%).
14. The LENDER recognizes the payment of the CLIENT on the date when it is paid on any of the sales
points (equipped to receive payments) of the LENDER or its authorized agents or at the date when
it is credited to any of the banking account of LENDER or its authorized agents.
15. If the declared due date is the public holiday, the effective due date is considered the last working
day prior to the declared due date.
16. The payments being paid are amortizing the loan at the due dates as they are declared in the
payment schedule and in the following order: (1) fees, (2) overdue interest, (3) overdue principal,
(4) penalties, (5) due interest, (6) due principal, (7) other payments declared by the Law of the
Philippines.
17. In the event that the CLIENT fails to pay his/her obligation towards the LENDER for a period of
more than 30 days, the LENDER has the right to automatically cancel CLIENT’S insurance
coverage. This is without prejudice to the right of the LENDER to collect from the CLIENT whatever
amount CLIENT owes to the LENDER.
18. The CLIENT understands and agrees that, if enforce payment or collection, this AGREEMENT is
entrusted to an attorney-at-law, the CLIENT shall pay twenty-five percent (25%) of the amount
due on this AGREEMENT as Attorney’s Fees but in no case be less than 25,000.00 Philippine
pesos, exclusive of all expenses of collection and all costs, and liquidated damages equal to
twenty-five percent (25%) but in no case less than 25,000.00 Philippine pesos. The CLIENT agrees
that partial payments accepted by the LENDER shall not in any manner be construed as a waiver,
extension, or novation of its/his/her obligation under this AGREEMENT.
19. Both parties understand the conditions of this AGREEMENT and commit to meet their obligations
against the counter-party in time and as they are defined in this AGREEMENT.
20. For Cash Loan Applications approved after five thirty o’ clock in the afternoon (5:30 pm), the loan
proceeds shall be disbursed at twelve o’ clock in the afternoon (12:00 nn) onward on the next day.

B. RIGHTS OF LENDER

1. Notwithstanding any provisions to the contrary contained in this AGREEMENT, the LENDER at its
sole option shall be entitled to pre-terminate and/or declare this AGREEMENT and all sums
payable hereunder or under other notes and/or all the CLIENT's other loans/obligations with the
LENDER to be immediately due and payable without need of presentment, demand, protest or
notice of any kind (all of which are expressly waived by the CLIENT) upon the occurrence of any of
the following events: (a) the loss or the loss of the value of the COLLATERAL securing this
AGREEMENT; (b) the CLIENT defaults in the payment when due of any installment according to the
payment schedule, or in the payment of the interest due on any Repricing Date; or (c) if the
CLIENT fails to pay the principal and interests hereunder on the Maturity Date; or (d) any
representation or warranty made by the CLIENT hereunder or in connection with this AGREEMENT
shall prove to have been incorrect in any material respect when made; or (e) the CLIENT becomes
insolvent or unable to pay its/his/her other debts and obligations with the LENDER or with other

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entities when due or commits or permits any act of bankruptcy; (f) in the event of garnishment.
receivership or suit of any kind begun against the CLIENT; or (g) the CLIENT is being arrested or
his ability to meet the obligations will become limited in other way.
2. LENDER has the right to require the CLIENT to return the principal, interest and penalties.
3. LENDER has the right to collect, process, use and share the personal data of the CLIENT in
compliance with the Law of the Philippines. By signing this Agreement or providing personal
data/information to LENDER, CLIENT is consenting to the collection, use, processing, sharing and
disclosure of CLIENT’S personal information in a manner consistent with the purposes for which it
was originally collected and as permitted under the applicable privacy and data protection laws
and its implementing rules and regulations.
4. LENDER has the right to control the purposefulness of the loan.
5. LENDER has the right to transfer its rights resulting from this AGREEMENT to the third party
without prior notice to the CLIENT.

C. OBLIGATIONS OF LENDER

1. LENDER is obliged to provide the disbursement of the loan within one (1) day since the date of
this AGREEMENT in cash or to the banking account exactly according to the credentials declared
in the Certificate of Approval.
2. LENDER is obliged to provide the CLIENT with at least one payment channel.
3. LENDER is obliged to accept the payment from any payment channel the CLIENT decides to use.
4. LENDER is obliged in the case of pre-termination to send the notice to the client not less than
thirty (30) days prior its intention to do so.

D. RIGHTS OF CLIENT

1. CLIENT has the right to receive the loan according to the conditions described in this AGREEMENT.
2. CLIENT has the right to repay the loan through any payment channel the LENDER at that moment
provides.
3. CLIENT has the right to pre-terminate the AGREEMENT at any time by fully repaying the balance
valid at that day without any reason nor notice to the LENDER provided the General Conditions
are met.

E. OBLIGATIONS OF CLIENT

1. CLIENT is obliged to fully repay the loan provided by LENDER according to the payment schedule
declared in this AGREEMENT.
2. CLIENT is obliged in the case of pre-termination to fully repay the balance as of that day.
3. CLIENT is obliged not to transfer rights and obligations resulting from this AGREEMENT to the third
party without prior consent of the LENDER.
4. CLIENT is obliged to inform the LENDER within three (3) days about any change in his/her
personal information, contact information, employment information, information about the source
of income, information about the expenses or other information or events which may influence
CLIENT's ability to meet the obligations resulting from this AGREEMENT.
5. CLIENT is obliged in the case of the late payment to pay the LENDER the daily penalty interest
equalling to point five per cent (0.5%) charged from the overdue principal.
6. CLIENT is obliged in the case of the late payment to reimburse all the costs the LENDER may be
incurred due to the late payment of the CLIENT.
7. CLIENT is obliged to cooperate with LENDER or it's dedicated representative in liquidating
CLIENT's overdue obligations resulting from the payment schedule and other conditions as
defined in this AGREEMENT or other agreements with LENDER. CLIENT agrees to provide
immediate assistance with prompt closure of any overdue balance by prioritizing his/her personal
spending towards the repayment of such balance, monetizing his/her personal assets in favor of
the obligations resulting from this AGREEMENT or other agreements with LENDER, or any other
method CLIENT and LENDER may agree upon for the purpose of minimizing damage of LENDER's
receivable and CLIENT's overdue sanctions. Any excessive assets which may outstand after the
recovery of CLIENT's debt will be returned back to the CLIENT should CLIENT request so.
8. CLIENT is giving LENDER a consent to contact current and future employers of CLIENT to execute
salary deductions for the purpose and in the amount necessary to serve CLIENT's overdue
obligations. CLIENT agrees that such deduction will be prioritized above any other deductions
CLIENT may have scheduled and will last until CLIENT's obligations towards LENDER are repaid
fully.
9. CLIENT is giving LENDER a consent to sell, transfer or give under administration the rights and
obligations agreed in this AGREEMENT to any third party chosen purely upon the discretion of
LENDER respecting ability of third party to minimize damage of LENDER's receivable and CLIENT's

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overdue sanctions and other immediate costs spent by third party spent on the recovery of
LENDER's obligations until full repayment. CLIENT is during that time forfeiting all benefits and
membership advantages accumulated to date.
10. CLIENT is obliged to prove the purposefulness of the loan being provided by this AGREEMENT.
11. CLIENT is obliged to keep the information present in this AGREEMENT confident.

F. PLEDGE OF COLLATERAL AND BLOCKING OF IMEI

1. CLIENT hereby consents, agree and expressly undertake that as general and continuing collateral
security for the repayment of principal amount of the Loan along with agreed interest thereon and
all other charges payable pursuant to this AGREEMENT, the CLIENT in accordance with the laws of
the Republic of the Philippines, does hereby pledge the charge to and in favor of the Lender,
hereunto present and accepting, the property acquired subject matter of this AGREEMENT, with
the following IMEI number and MAC address . Client hereby further undertake to preserve the
condition thereof and hold the same in trust for the LENDER who shall retain ownership thereof,
until the entire loan obligation shall have been fulfilled.
2. That in the event of default by the CLIENT and the LENDER decides to declare the CLIENT in actual
default with the loan obligation and declare the same to be immediately due and demandable and
the LENDER decides to act on the thing pledged for the satisfaction of the loan obligation, the
LENDER shall have the right, without prejudice to any other rights and recourses which it may
have, to require the CLIENT to deliver on demand the Pledged Property so that the Lender may, at
its sole option:
1. retain the Pledged Property pursuant to the laws of the Republic of the Philippines and as
confirmed by the Client or;
2. sell it at auction, and after notice, in the manner provided by the laws of the Republic of the
Philippines.
In the exercise of option (b) the Lender shall have the right to payment by preference out of the
proceeds of sale, base on the entire amount of the Loan then outstanding inclusive of principal,
interest and all other sums the repayment of which is secured by this Deed of Pledge, including
the costs relating to the repossession and the sale thereof.
3. Failure on the part of the CLIENT to surrender the pledged items which the CLIENT is holding in
trust for the LENDER shall make the CLIENT liable against the LENDER for damages as may be
allowed for by law and shall be compelled to produce the item under action for specific
performance.
4. For purposes of facilitating the collateral agreement, CLIENT hereby expressly agree during the
execution of this Agreement to allow the LENDER to install a specified software application with
the particular capacity to block network connectivity and operational use of the phone following
the actual confirmation of the client to be in actual default of his loan account and after he failed
to comply with his obligations under this security agreement. Moreover, such application software
shall provide the CLIENT with automatic electronic update on payment reminder, special offer and
updated marketing offers as duly sanctioned by the Lender.
5. Client likewise consents and agree that in case of actual default, the Lender being the owner of
the unit, has the right to report the unit as lost to the National Telecommunication Commission
(NTC) and request the NTC for International Mobile Equipment Identity (IMEI) blocking.

G. DATA & PRIVACY CONSENT

1. By executing this document, herein undersigned grant my free, voluntary and unconditional
consent to the collection and processing of all Personal data as covered under prevailing laws and
regulations as transmitted by me in person or by my authorized representative if there is any to
the information database system of Flexi Finance Asia, Inc. and all its other affiliates, authorized
agent, representatives or information comptroller, by whatever means in accordance with the
Republic Act of 1073 otherwise known as the “Data Privacy Act of 2012” of the Republic of the
Philippines, including its implementing Rules and Regulations (IRR) as well as all other guidelines
and issuances by the National Privacy Commission.
2. I hereby confirm that when I use Flexi Finance services, the company also collect information
about my transactions. I further affirm that the company may also collect information from or
about me from other sources such as through my contact with the company, including with the
customer support team, results out of my response from conducted surveys and my interactions
with Flexi Finance or other companies. I further confirm that the company may also obtain
information about me from third parties such as credit bureaus, telecommunication companies
(i.e. Globe, PLDT, Smart, Sun cellular) and other identity verification services. That with such
confirmation, I hereby give my consent to such various modes of acquisition of my personal
information.
3. With such grant of consent for the modes of acquisition of my personal information, I hereby

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expressly agree and authorize Flexi Finance Asia, Inc. and all its affiliates to use my personal
information for marketing concerns, to wit;
1. Utilize and continue with the use of my loan information for the processing of loan services
and for administering to the terms and conditions as stated in my loan contract.
2. Retain my personal information within the period as may be allowed for by law from the date
of the termination of my loan contract subject to the discretion of the company. The company
may use such information for any legitimate purpose but always in compliance with prevailing
and to be enacted laws and regulations.
3. Retain my information in the database of the company with the latter having the right to
share the same to all its affiliates and necessary third parties for any legitimate business
purpose subject to the assurance by the company that proper security systems are in place to
protect my information.
4. To use my information for future customer campaigns and base its offer using the personal
information I shared with the Company. Moreover, I hereby authorized the company to use my
information and share the same with its affiliates and third party partners/associates to
facilitate the satisfaction of my obligation provided that rules and regulations including but
not limited to what is provided under SEC MC No. 18, Series of 2019 is duly complied.
4. LENDER has the right to give out the personal data of the CLIENT to the third party (without prior
notice) in the cases when the CLIENT does not meet the obligations resulting from this
AGREEMENT.
5. LENDER has the right to verify the information and the documents (which may contain personal
data of the CLIENT) provided by the CLIENT if the LENDER considers this information important
under its observed business process.

H. VENUE & SETTLEMENT OF DISPUTES

1. Any disputes, controversy or difference which may arise between the parties out of, in relation to,
or in connection with this agreement is submitted to the jurisdiction of any courts within the
Philippines.
2. The parties, however, may settle dispute, controversy or difference which may arise between the
parties out of, in relation to or in connection with this AGREEMENT through internal settlement or
compromise.

I. GENERAL PROVISIONS

1. In applying for the Loan, the CLIENT consents and agrees that the approval is subject to the
submission of documentary requirements and LENDER’S approval process including the sending
by the LENDER of the SMS that contains the Consent and Verification Code which shall be
received by the CLIENT prior to data collection.
2. By accepting the Verification Code, CLIENT hereby confirm and consents for the LENDER to
proceed with the collection, verification and processing of CLIENT’S personal data, including the
sharing of CLIENT’S email address which shall be used by the PARTIES in all transactions involving
the Loan.
3. By the signing this Agreement, CLIENT hereby confirms that s/he received the approval code sent
by the LENDER.
4. CLIENT further confirms and consents that by signing this Agreement, s/he received the
Acceptance Code sent by the LENDER and that the Acceptance Code shall constitute as signature
of the CLIENT.
5. As evidenced by the acceptance code, the CLIENT has agreed and consented to be fully bound
and subject to the Terms and Conditions as stipulated under this Agreement and further confirms
that s/he has thoroughly read and understands the Terms and Conditions of this Agreement and
agrees to abide by the same (as may be amended or supplemented from time to time upon
mutual agreement of the Parties). In addition, CLIENT hereby confirms, agrees and consents to
have his/her personal and data information submitted to the LENDER, processed in compliance
with Republic Act No. 10173 or the Data Privacy Act of 2012 (DPA), its Implementing Rules and
Regulations, and other relevant policies, including issuances of the National Privacy Commission.
6. Any changes, amendments, and/or additions to this AGREEMENT made and agreed in writing by
both parties shall form as an integral part of this hereof.
7. No failure on the part of the LENDER to exercise, and no delay in exercising, any right hereunder
shall operate as a waiver hereof, nor shall any single or partial exercise by the LENDER of any
right hereunder preclude any other or further exercise thereof or the exercise of any other rights.
The remedies herein provided are cumulative and not exclusive of any remedies provided by the
law.
8. This AGREEMENT shall be governed by and interpreted in accordance with the laws of the
Republic of the Philippines.

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 LOAN AGREEMENT
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9. If any provision of this AGREEMENT is declared or found to be illegal, unenforceable or void, then
both Parties shall be relieved of all obligations arising under such provision. But if the remainder
of this AGREEMENT shall not be affected by such declaration or finding and is capable of
substantial performance, then each provision not so affected shall be enforced to the extent
permitted by law or shall be modified only to the extent necessary to allow such provision to
remain legally valid and enforceable.
10. Copy of this Agreement is received by the Client via email address he/she provided to the Lender.
Such receipt shall have the same legal effect with the receipt of the printed and signed copy of
the Agreement.

H. SIGNATURES

IN WITNESS WHEREOF, the parties have hereunto set their hands, this 2nd day of February 2022
at Capiz, Philippines.

LENDER CLIENT
Flexi Finance Asia Inc. Cherry Francisco Queque
CIFC Tower, J. Luna Ave. Extension Address:
North Reclamation Area san roque street ROXAS CITY (Capital), CAPIZ
Cebu City, 6000 5800 Filipino
Unified Multi-purpose ID No. CRN011184890779
represented by: Phone:
Mobile 09683718887
--- ---

Ladislav Muller Queque C.F.

President
Flexi Finance Asia Inc.

Witness:

12274
Carmenille Laguda
Sales Specialist
Flexi Finance Asia Inc.

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF CEBU . . . . . . . . . . . . . . .)Sc.

BEFORE ME, Notary Public for and in the City of Cebu, Philippines, ____ day of _____________________,
personally appeared _______________________________________, and _______________________, with their proof
of identities indicated below their names, all known to me to be the same persons who executed the
foregoing instrument and acknowledged before me that the same are their own free and voluntary acts
and deeds.

WITNESS MY HAND AND SEAL.

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Doc. No. _____;

Page No._____;
Book No. _____;
Series of 2022.

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