Borrow Load Terms and Conditions

Welcome to Borrow Load. 

The terms and conditions for Borrow Load (“Terms”) serves as a contract between you (“Buyer”) and G-Xchange, Inc. (“GXI”) with respect to the Borrow Load you availed of via the GCash App. The term ‘Product’ as used in these Terms refers to the prepaid load granted by GXI to Buyer. By using the Borrow Load feature on the GCash App, you confirm that you have read and understood and you accept these Terms and the terms of the Disclosure Statement (“collectively and for brevity, Agreement”) as defined below.  

1. GENERAL TERMS

1.1 Buyer may only subscribe to one Borrow Load product at a time. The Buyer may avail another Borrow Load product after successful payment of the previous Borrow Load product. Buyer may only avail of this product for their GCash registered number

1.2 Buyer consents and agrees that GXI shall automatically deduct money from the buyer’s GCash wallet for payment upon due date. 

1.3 Buyer consents and agrees that GXI may send short messaging services (SMS), mobile, and/or email alerts/messages to you to confirm your Borrow Load subscription or for other purposes in connection with the product. 

1.4 Buyer shall release and hold GXI harmless from any claims, demands, or liabilities of whatever kind or nature in connection with, or arising from, (i) the subscription process, (ii) disclosure of your information in connection with such subscription, (iii) Processing of Your Personal Information (as defined below), (iv) the Agreement as defined herein, and (iv) from any acts directly or indirectly related to the foregoing, unless such claims, demands, or liabilities are due to fault solely attributable to GXI. 

2. PRODUCT FEES AND CHARGES 

2.1 The Product and Product duration will be based on the offer provided by GXI to Buyer.

2.2 Buyer agrees to be bound by, and undertakes to comply with, the terms of the disclosure statement that will be sent through SMS, which contains, among others, the following information (“Disclosure Statement”):

• Product Price;
• Repayment period;
• Upfront fee; 
• Charges and deductions (e.g., processing fee and applicable taxes); 
• Schedule of payment.

2.3 Buyer agrees that the sum payable under the Disclosure Statement and other fees and charges as may be imposed or mandated by government agencies in relation to the Product shall be borne by Buyer.

2.4 Buyer further agrees that the details in the Disclosure Statement may be adjusted by GXI should there be changes mandated by applicable laws, rules, and regulations, or at GXI’s sole discretion based on its policies. You agree that any adjustment shall be binding upon your receipt of written notice from GXI specifying these adjustments. In case the Buyer disagrees with the adjustment, Buyer has the option to fully pay the product price, including applicable fees and other charges, within thirty (30) days from receipt of the adjustment notice from GXI.

3. PREPAID LOAD RELEASE 

3.1 The prepaid load borrowed shall be credited to the GCash registered number used by Buyer in applying for Borrow Load.

3.2 You hereby acknowledge that the proceeds of the Product or any part(s) thereof shall be deemed to have been availed on the date when the prepaid load is credited to your GCash registered number. If no complaint is received by GXI within one (1) business day from the time the prepaid load is credited to your GCash registered number, Buyer is deemed to have received the full and correct product and has fully acknowledged and accepted all the details specified in the Disclosure Statement.

3.3 GXI reserves the right to cancel the sale and recall the product if the prepaid load cannot be credited to Buyer’s GCash registered number for whatever reason. 

4. REPAYMENT

4.1 Buyer will be receiving a payment due reminder via e-mail or SMS or any GCash channel before the payment due date.

4.2 Buyer shall repay the amount due in accordance with the payment schedule set out in the Disclosure Statement. Repayments shall be collected through an automatic deduction of the amount due from Buyer’s GCash wallet. Buyer shall be responsible in ensuring sufficient balance in Buyer’s GCash wallet for repayment. 

4.3 Buyer shall receive an SMS confirmation if payment has been successful. 

4.4 In case of Buyers failure to pay in accordance with the schedule specified in the Disclosure Statement, Buyer agrees that GXI will automatically deduct any overdue amount once Buyers GCash wallet is sufficiently funded. Automatic deduction shall include the service specified below. 

4.5 Buyer agrees to pay a processing fee for the auto-debit feature at the rate specified in the Disclosure Statement (“Processing Fee”). The processing fee shall be added to the amount due. 

4.6 In the event of non-payment, you consent that GXI may:

• Exclude your account in future promotions by GXI; and/or
• reflect such non-payment on your account which may exclude you from other GCash products.

5. CONSENT TO PROCESSING OF PERSONAL INFORMATION

5.1 You authorize and give your consent to GXI and the Authorized Entities to collect, process, use, store, record, organize, and update, your personal information (collectively, “Processing of Your Personal Information”) necessary or incidental to your Borrow Load subscription such as for product and systems development, sales and marketing activities and communications relating to GXI’s products and/or services.

5.2 You further authorize and give your consent to GXI to share any and all of your personal information for the above legitimate purposes and principle of proportionality, including but may not be limited to the personal information and data specified below (“collectively, Personal Information”), to its contracted third parties to perform any of the above purposes:

• Personal profile;
• Data usage records;
• Promo subscription and redemption records;
• Voice calling data records;
• SMS sending and receiving records;
• Customer relationship management records (e.g. correspondences and photos);
• Pre-paid load balance, top-up, and usage records;
• Value-added service records;
• Postpaid billing and collection records;
• GCash balance and transactional records;
• Buyer status;
• Monthly purchase data; and
• Payment and collection records.

5.3 You agree that your Personal Information may be further disclosed by GXI in compliance with the lawful orders of governmental agencies, and existing laws, rules, and regulations, or to the extent that is necessary or incidental to GXI’s business operations, plans, and its legal and contractual obligations. 

5.4 You authorize GXI to retain all information and documents you have submitted and use such information and documents for GXI’s legitimate business purposes such as: (i) processing of any application or request in connection with any product and/or service offered by GXI, (ii) to improve GXI’s existing products and services, and (iii) advertising and promoting new products and services.

5.5 You understand that GXI is committed to continuously improve its products and services, and pursue its business plans. To achieve these, and to be able to perform its legal and contractual obligations, GXI may disclose and make available to GXI on a confidential basis any information you have provided to GXI and may hereafter provide, and other information GXI may have directly or indirectly gathered and may hereafter gather through its own verification and validation and/or through other methods and means.

5.6 As data subject, you have the right to suspend, withdraw, or request the blocking, removal, or destruction of your Personal Information within the processing systems of GXI upon discovery and substantial proof that your Personal Information is no longer necessary for the purpose for which it was collected or provided. GXI shall mark your account in its database as inactive or deactivated and shall retain your Personal Information only for the purpose of complying with the retention requirements of applicable laws.

5.7 GXI may require you to update your Personal Information, as the need arises. Personal information that may be updated includes the current and permanent addresses, mobile number, landline number, and email address.  All communication pertaining to the product shall be sent to the most updated contact details provided by you to GXI. 

5.8 The Buyer, as data subject, has the right to seek indemnity for damages sustained, if any, due to inaccurate, incomplete, outdated, false, unlawfully obtained, or unauthorized use of Personal Information.

6. COMPLAINTS Concerns, complaints, inquiries, or requests may be raised through the following channels: 

6.1 GCash Customer Contact Centers

• Hotline: 2882
• GCash Help Center in the GCash website or mobile app

6.2 BSP Financial Consumer Protection Department

• Hotline: (02) 8708-7087
• Email: consumeraffairs@bsp.gov.ph
• Mailing Address: The Consumer Empowerment Group, Center for Learning and Inclusion Advocacy, Bangko Sentral ng Pilipinas, 5th Floor Multi-Storey Bldg., BSP Complex, Mabini Street Malate, 1004 Manila

7. MISCELLANEOUS

7.1 If GXI shall require the services of counsel or third-party service provider to enforce any of its rights and remedies under the Agreement, GXI shall be entitled to recover attorneys’ fees, service provider’s fees, and to the extent permitted by law, fines, penalties, if any, from Buyer.

7.2 The Agreement shall be binding upon, and inure to the benefit of, Buyer, GXI, and their respective successors and assigns.

7.3 GXI shall have the right to assign any or all of its rights or obligations under the Agreement to any member of GXI.  Buyer shall not assign or transfer any or all of his/her rights and obligations under the Agreement without the prior written consent of GXI.

7.4 In case any provision of the Agreement is declared invalid, the other provisions shall remain valid and effective to the extent permitted by applicable laws.

7.5 The Agreement shall be governed by the laws of the Republic of the Philippines.

7.6 Any dispute arising from the Agreement shall be brought before the proper courts of Taguig City to the exclusion of all other courts.

7. 7 The Agreement shall be effective from the date Buyer subscribes to Borrow Load.

7.8 You also authorize and give consent to GXI to offer you products and services, related to Borrow Load or otherwise, through mail, email, SMS, by telephone, or by any other means of communications, including the use of social media.