Terms of service
1- Lendup operates under the laws of the Islamic Republic of Iran..
2- Registering in Lendup and using it means that the users have read and accepted the terms of this agreement.
3- The right to change the provisions of this agreement is reserved for Lendup on the assumption of prior notification to the users.
4- In case of illegal use by users, the right to block the user account is reserved for Lendup, and with the written request of the judicial authority, the identity information of the users will be provided to the competent authority.
5- All users' information is considered completely confidential by Lendup and Lendup will not provide this information to third parties.
6- Authentication is necessary to use Lendup services and users are required to upload their correct information. It is obvious that in case of any violation in authentication, the responsibility rests with the violator and Lendup has the right to stop providing services to the said user and refer the violation to the competent authorities.
7- It is forbidden to create multiple accounts in Lendup, and if any violations are observed, other accounts of the violating person will be blocked.
8- Any negligence of users in maintaining security information, including passwords, is the responsibility of the user and Lendup will not bear any responsibility.
9- The user will be responsible for providing the correct wallet address. In case of any problems, including mistakes in entering the correct address, address errors, problems with the destination wallet, and the blocking of users' assets in the destination wallet, Lendup will not bear any responsibility.
10- Providing and granting financial credit for installment purchases in Lendup is done according to the Murabahah contract. In such a way that the user buys the desired product in cash as an agent and for Lendup, and Lendup sells the same product to them with a profit and in installments.
11- Lendup guarantees to keep the assets pledged by users in the best way and with the highest possible security standards. In case of any security problem, Lendup will be committed to compensation.
12- The value of the pledged asset is calculated online and instantaneously based on the market price, and Lendup will not be responsible for its increase or decrease in value.
13- By reducing the price of the collateral, the user is obliged to increase its amount up to the specified amount. Otherwise, as soon as the value of the collateral reaches the amount of the debt, the collateral will be sold and the loan installments will be reduced according to the agreement.
14- Payment of the network fee when withdrawing cryptocurrency from Lendup will be the responsibility of the user.
15- Payment of installments in Lendup is done only through the payment gateway and using the bank cards of Shetab network members.
16- In case of non-payment of installments on the due date, the amount of the installment will be sold from the user's collateral and that installment will be considered paid. Obviously, in this situation, the user cannot withdraw the sold collateral.
17- If Lendup makes any kind of mistake in its calculations, it is always authorized and free to act directly and independently without performing any administrative and judicial formalities and receiving written permission from the user to correct the mistake and withdraw from their accounts and Lendup's diagnosis of a mistake or the need to withdraw from the account will be valid, and the user waives the right to make any objections and claims regarding Lendup's operation in any way.