In consideration of OK Finance Limited ("Company") agreeing to provide and/or continue to provide its services and credit facilities to the Borrower, the Borrower hereby agrees to abide by the following terms and conditions:

1. Drawings

1. 1.1
   The principal sum ("Loan") advanced by the Company is to be drawn down in one lump sum at the interest rate and upfront interest mentioned in the Loan Agreement. Proceeds of the Loan will be paid by way of cheque unless otherwise agreed by the Company. The Loan once repaid cannot be re-borrowed.
2. 1.2
   Approval of the Loan is subject to the information provided by the Borrower and is contingent upon the credit record of the Borrower having met the credit requirements of the Company. If the approved loan amount is inadequate to cover the actual debts incurred by the Borrower, the Borrower is solely responsible for the shortfall and is required to make arrangement on his own to pay the difference to other credit providers.
3. 1.3
   The Borrower shall be fully responsible for any extra costs and expenses incurred as a result of the Borrower using the Loan to settle his debts with other credit providers.

2. Interest

1. 2.1
   Interest on the Loan shall accrue from date of drawdown and calculated at such fixed flat rate as the Company determines at its sole discretion depending on the size of the Loan, the loan tenor and the instalment terms (details will be provided when the Loan is approved) and subject to variation as the Company may announce from time to time and calculated on monthly basis. The monthly repayment amount shall be apportioned between the Loan and interest in such manner as the Company thinks fit. The repayment amount may be rounded up to the nearest dollar.

3. Repayment/Prepayment

1. 3.1
   The Borrower shall repay the Loan together with interest, accrued interest, charges, expenses and other liabilities hereinafter mentioned, by the number of monthly instalments agreed to by the Company and within the loan tenor offered by the Company and selected by the Borrower and through a designated repayment account, whether maintained with Dah Sing Bank Limited or other banks in Hong Kong ("Repayment Account"). The Borrower irrevocably authorizes the Company to auto-debit the Repayment Account on the payment due date for instalment repayment on monthly basis, subject however to full repayment on demand and undertakes to keep the Repayment Account with adequate funds to meet each monthly repayment as it falls due.
2. 3.2
   In general, clearing and settlement of banks in Hong Kong take place from Mondays to Fridays only. If the payment due date for a particular instalment falls
   1. on a Saturday or a Sunday or a public holiday, the repayment will be made on the following Monday or the following clearing day in Hong Kong, unless such clearing day shall fall in the next calendar month then it shall be made on or as at the immediately preceding clearing day; or
   2. on either 29th, 30th or 31st of a month and a particular month does not have that date, the repayment will be made on the last clearing day in Hong Kong of that month.
3. 3.3
   Partial repayment is not allowed. However, prepayment is accepted provided that the prepayment amount is the multiple of the monthly instalment amount. After each prepayment, the payment due date will be adjusted.
4. 3.4
   Early settlement will be permitted on prior notice and on such terms as the Company may at its absolute discretion decide subject to repayment of the entire outstanding principal of the Loan, accrued interest for the current & next month and early settlement handling fee mentioned in the Loan Agreement. The entire outstanding principal amount of the Loan and accrued interest are calculated on the basis of the formula known as the "Rule of 78". The Company may at its sole discretion determine how the early settlement amount is to be calculated or re-calculated in such manner (including a manner different from that mentioned in the Borrower’s Personal Loan Application Form).
5. 3.5
   Where repayment is not received by the Company by the payment due date, the Company may make further debits on such other days after the due date as the Company thinks fit and the Borrower agrees to pay for the late repayment charges, handling fees, penalty charges and interest at such rate and from such time as the Company may announce.
6. 3.6
   If the Borrower fails to make any monthly instalments when due, a late charge at an interest rate mentioned in the Loan Agreement on instalment arrears shall be payable from the due date to the date of actual payment.

4. Defer of First Instalment Date

1. 4.1
   The Borrower may request that the date of repayment for the first instalment ("First Instalment Date") be deferred to a later date. If the Company agrees to do so, such later day shall be specified as the "Deferred First Instalment Date" and the Borrower shall pay to the Company on the Loan drawdown date interest on the amount of the Loan calculated at the same rate as mentioned in clause 2.1 for the number of days in the deferred period commencing from and including the First Instalment Date up to but excluding the Deferred First Instalment Date and on the basis of a year of three hundred and sixty five days. Such interest amount may be deducted from the Loan.

5. Events of Default & the Company’s Discretion

1. 5.1
   All moneys payable hereunder together with legal costs and/or costs for employing debt collection agency (at a reasonable sum and reasonably incurred) in enforcing the terms hereof shall become immediately due and payable upon the happening of any one of the following events:
   1. if the Borrower defaults in payment on the due date of any of the instalments; or
   2. if the Borrower is insolvent or unable to pay his debt; or
   3. if the Borrower has any execution or distress issued or levied against him; or
   4. if any circumstances occur which in the opinion of the Company gives reasonable grounds for belief that the Borrower may not (or may not be able to) perform his obligations hereunder; or
   5. if the Borrower without the Company’s consent and within 1st half of the repayment term applies for or sets up any other unsecured loan or loan account (including Credit Card Account).
2. 5.2
   The Loan will be subject to the Company’s review periodically as it deems fit at its sole and absolute discretion with or without prior notice.
3. 5.3
   Notwithstanding any provision to the contrary in this document, the Company nevertheless expressly reserves the right at its sole and absolute discretion at any time with or without prior notice:
1. to increase, reduce, cancel, suspend, withdraw, terminate and/or modify the Loan or any part or parts thereof whether used or unused; and/or
2. to exercise the overriding right of demand to the repayment of the Loan or any part or parts thereof; and/or
3. to charge additional handling fees and the amount of which shall be such sum as decided by the Company from time to time and in such payment method or for such period(s); and/or
4. to increase and/or vary the loan interest; and/or
5. to reduce and/or vary the repayment period.

6. Collection Charges

1. 6.1
   The Company may take such action as it in its absolute discretion thinks fit to enforce its rights in respect of the Loan including without limitation employing third party agencies to collect any sums owing to the Company. The Borrower shall be liable to reimburse on demand and indemnify the Company against all charges and expenses which are of reasonable amount and are reasonably incurred by such third party agencies and the Company’s own reasonable legal costs and expenses.

7. Personal and Account Data

1. 7.1
   The Borrower acknowledges that he has received a copy of the Company’s Notice to Customers relating to Customers’ Data.
2. 7.2
   In addition to the permitted handling of consumer credit data under the Code of Practice on Consumer Credit Data ("Code") by reference to credit reference agency and debt collection agency, the Borrower hereby consents (so far as is permissible in law) to the collection, use, processing and transfer of and access to his/her personal and account data between the Company and their respective contractors or outsourced agents including other financial institutions, debit or credit card issuers, and between the Company and its parent company and affiliates, in connection with the lawful business of such entities including but not limited to the provisions of credit, credit review, credit scoring, matching or direct marketing.
3. 7.3
   The provisions in the Code concerning the Company’s continuing obligation during or upon termination of the Loan and the right of the Borrower to access and to delete shall equally apply to the handling of data mentioned in clause 7.2 hereof.

8. Miscellaneous

1. 8.1
   The Borrower shall inform the Company as soon as possible of any difficulty in repaying any outstanding balance to the Company; the Borrower shall also promptly inform the Company in writing of all changes in employment, residential address or telephone number.
2. 8.2
   The Borrower consents to the Company to provide the following documents to guarantor (if applicable) evidencing the obligations to be guaranteed. They may include:
1. a copy or summary of the Loan Agreement; and/or
2. a copy of any demand of payment which is sent to the Borrower; and/or
3. at the request of the guarantor a copy of the latest statement of account provided to the Borrower.
3. 8.3
   Any terms and conditions (including fees and charges) of the Loan may be altered from time to time by the Company. The Company will notify the Borrower of such alteration by written notice thereof sent to the Borrower’s last address notified to the Company, or by any other channels that the Company may think fit under different circumstances.
4. 8.4
   In the course of providing loan services, the Company may need to record verbal instructions received from the Borrower and/or any verbal communications between the Borrower and the Company in relation to such services.
5. 8.5
   Terms and conditions herein which are invalid for any reason shall be ineffective only to the extent of such invalidity and shall not affect the validity of the remaining terms and conditions.
6. 8.6
   All notice, statement or correspondence given by the Company may be sent by ordinary post to the Borrower’s last known address and shall be deemed to have been given immediately after posting.
7. 8.7
   The Borrower may not assign the whole or any part of his rights under these terms and conditions. The Company may assign, sub-participate or transfer any or all of its rights and obligations under these terms and conditions.
8. 8.8
   No failure or delay by the Company to exercise or enforce any right shall operate as a waiver of such right.
9. 8.9
   These terms and conditions shall be incorporated into the Loan Agreement. In case of any inconsistency between the provisions of the Loan Agreement and the provisions of these terms and conditions, the provisions of these terms and conditions shall prevail.
10. 8.10
    These terms and conditions are governed by and construed in accordance with the laws of Hong Kong Special Administrative Region and in case of any inconsistency between the English and the Chinese version, the English version shall prevail.
11. 8.11
    A person who is not a party to these terms and conditions has no rights under the Contracts (Rights of Third Parties) Ordinance (Cap. 623). Nothing in these terms and conditions, whether expressed or implied, is intended to, or will, confer on any person any benefit or any right to enforce any term which such person would not have but for the aforementioned Ordinance.

OKF/P005/1602