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By using, accessing or browsing the RUNRIO webpage address (the “Site”), you signify that you have read these Terms of Service and agree to be bound by the same. Upon your use of the Site, these Terms of Service shall be a binding agreement between you and Runrio, Inc. (hereinafter referred to as RUNRIO). If you do not agree or have reservations with respect to any provision of these Terms of Service, please exit this Site.

I. Eligibility

This Site is intended solely for the use of:

a. An individual at least 18 years of age who has the legal capacity to enter into binding agreements;

b. A corporation, branch office, or partnership registered and in good standing with the Philippine Securities and Exchange Commission (SEC), has a permanent place of business in the Philippines, and is duly represented by its designated account holder duly authorized to contract or fund loans on its behalf; or

c. A sole proprietorship duly registered with the Philippine Department of Trade and Industry (DTI).

By creating and maintaining an account with this Site, you represent and warrant that you possess at least one of the foregoing eligibility requirements. You likewise authorize the Company to use all necessary means to verify your identity with any third party providers of information.

II. Registration and Application

In creating your account or applying to become a borrower or lender, you agree to provide the true, current, complete and accurate information about yourself that is required by the registration or application form. If any information you provide is untrue, inaccurate, not current, or incomplete, we have the right to cancel your registration, reject any application you have submitted, and restrict your future use of this Site and our products and services. The Company reserves the right to reject any registration and/or decline any loan application in violation of these Terms of Service.

III. Privacy

You agree that the following personal information (hereinafter referred to as “Personal Information”):

to be provided upon your registration in this Site or upon your application to avail any of the Site’s products and services shall be collected, used, processed, disclosed, retained, stored, and protected by the Company in accordance with the Privacy Policy and these terms and conditions:

a. The Personal Information may be collected through the following means: freely given, specific, and informed information provided by the Client upon visit any of the website and creating and/or accessing the same, cookies, flash cookies, tags, general log information, emails, Client browsing behavior, Client searches and transactions and referral information from third-party websites and other automated devices to collect information.

b. The Personal Information may be disclosed to the following: (i) RUNRIO, its sponsors and partners, affiliates and subsidiaries, agents (including collection agencies), and subcontractors; (ii) the government, regulatory agencies, and fraud prevention agencies for the purposes of identifying, preventing, detecting or tackling fraud, money laundering, or other crimes, and for other lawful purposes; and (iii) other entities as may be required by law or as the public interest may so warrant.

c. RUNRIO may use your Personal Information or other internet usage data as the RUNRIO may require in connection with the conduct of its business, such as, but not limited to: (i) identify you as user of the Site; (ii) contact you in relation to your registered account/s or requested information; (iii) processing your account/s as part of the registration process and/or participation in event/s; and (iv) to maintain internal records.

d. RUNRIO shall dispose of your Personal Information for a period of one year from date of original entry in a secure manner that would prevent further processing, unauthorized access, or disclosure to any other party or the public, or prejudice your interest. The foregoing constitutes your express consent in accordance with Republic Act No. 10173, otherwise referred to as the Data Privacy Act or 2012 and its Implementing Rules and Regulations (promulgated 24 August 2016) as well as other applicable confidentiality and data privacy laws of the Philippines. You agree to hold RUNRIO, its officers, directors and stockholders, free and harmless from any and all liabilities, damages, actions, claims, and suits in connection with the implementation or processing of Personal Information in relation to your consent or authorization under these Terms of Service.

IV. User Content

By submitting content to the Site, you expressly agree to the following:

a. You retain all ownership rights to the content you have uploaded on the Site.

b. You hereby grant RUNRIO a non-exclusive, transferable, sub-licensable, royalty-free, world license to use, reproduce, distribute, prepare derivative works of, display, and perform any information or content that you provide in connection with your use of the Site and its services, subject to the privacy provisions in these Terms of Service. You grant RUNRIO the right to review, delete, edit, modify, reformat, excerpt, or translate any of your information or content.

c. You are solely responsible for the content and information you make available through or in connection with our products and services. RUNRIO will not be liable for any use or misuse of your personal data by others.

d. All the information and content posted on the Site or privately transmitted through the Site or via other means in connection with the Site’s services are the sole responsibility of the person from which that content originated. RUNRIO will not be responsible for any errors in or omission of any information or content posted by a user.

e. RUNRIO may access and use the information recorded by credit reference and fraud prevention agencies for the purposes of assessing lending risks and identifying, preventing, detecting or tackling fraud, money laundering and other crimes.

V. Responsibility for Account

You are solely responsible for maintaining the confidentiality of your password and account.

By creating and maintaining your account, you agree to honor all activities performed and obligations contracted using your account. If there is an unauthorized use of your account or a breach of its security, you hereby undertake to notify RUNRIO of the relevant circumstances immediately.

VI. Liability for Account Misuse

RUNRIO will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge. You could be held liable for losses incurred by RUNRIO due to a third party using your account or password.

VII. Account Security

While RUNRIO has performed adequate safeguards as required under the Data Privacy Act of 2012, RUNRIO does not guarantee that unauthorized third parties will never be able to defeat the Site’s security measures or use any personal information you provide to us for improper purposes. You acknowledge that you provide your Personal Information at your own risk.

VIII. Restrictions on Use

You agree to abide by all applicable laws and regulations in your use of the Site and its products and services. In addition, you agree that you will not do any of the following:

a. register for more than one account (unless the additional account is for purposes of applying for and registering for additional products or services, or register for an account on behalf of an individual other than yourself or on behalf of any group or entity;

b. post or otherwise make available content, or take any action on the Site, that may constitute libel or slander or that infringes or violates someone else's rights or is protected by any copyright or trademark, or otherwise violates the law;

c. post or otherwise make available content that in RUNRIO’s sole judgment and discretion is objectionable, such as content that is harmful, threatening, inflammatory, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or otherwise objectionable, or which restricts or inhibits any other person from using or enjoying the Site, or which may expose RUNRIO or users of the Site to any harm or liability of any type;

d. post or otherwise make available any unsolicited or unauthorized advertising, solicitations, promotional materials, or any other form of solicitation;

e. use the information or content on our Site to send unwanted messages to any other user;

f. impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age or your affiliation with any person or entity;

g. post or otherwise make publicly available on the Site any personal or financial information of any third party;

h. solicit passwords or personally identifying information for commercial or unlawful purposes;

i. use the Site or our products and services in any manner that could damage, disable, overburden or impair the Site;

j. harvest or collect email addresses or other contact information of other users from the Site by electronic or other means, including via the use automated scripts; or

k. post or otherwise make available any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment.

IX. No Warranty; Errors

The products and services on the Site are provided “as is” and without any representation or warranty. To the fullest extent permissible under applicable law, RUNRIO disclaims all such warranties, express or implied, including, but not limited to, warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, freedom from errors, suitability of content, or availability. RUNRIO does not warrant the accuracy, adequacy or completeness of the information provided on the Site and expressly disclaims liability for any errors or omissions in such information. RUNRIO does not guarantee and promise any specific results from use of the Site and its products and services. RUNRIO shall not be responsible for what users post on the Site or any offensive, inappropriate, obscene, unlawful or otherwise objectionable content uploaded by other users on the Site. RUNRIO is not responsible for the conduct, whether online or offline, of any user of the Site or its products or services.

X. Links

RUNRIO is not responsible for the accuracy of the information, content, products or services offered by, or the information practices employed by sites linked to or from the Site. Since third party websites may have different privacy policies and/or security standards governing their sites, we advise you to review the privacy policies and terms and conditions of these sites prior to providing any personal information.

XI. Termination

RUNRIO may terminate or suspend your access to or ability to use the Site immediately, without prior notice or liability, for any reason or no reason, including breach of these Terms of Service.

Termination of your access to and use of the Site shall not relieve you of any obligations arising or accruing prior to termination or limit any liability that you otherwise may have to RUNRIO or any third party.

XII. Limitation of Liability

To the fullest extent permitted by applicable law, in no event shall RUNRIO be liable for any direct, special, indirect or consequential damages, or any other damages of any kind, including but not limited to loss of use, loss of data, whether in an action in contract, tort (including but not limited to negligence) or otherwise, arising out of or in any way connected with the use of or inability to use the Site, including without limitation any damages caused by or resulting from reliance by user on any information obtained from Site, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance.

RUNRIO shall not be liable to you for any loss or damage which you may suffer as a result of being a member of the Site, except where such loss or damage arises from our breach of these Terms of Service or was caused by gross negligence, willful default or fraud by the Company or employees. RUNRIO shall also not be responsible for any breach of these Terms of Service arising from circumstances outside our reasonable control.

XIII. Liability for Breach

You shall be liable for any loss or damage suffered by RUNRIO and its users as a result of:

a. your breach of these Terms of Service or any loan agreement you have entered into pursuant to the Site’s services;

b. your fraudulent use of the Site; and

c. your provision of inaccurate, false or fraudulent data.

XIV. Intellectual Property Rights

The design, trademarks, service marks, and logos of the Site (“Marks”), are owned by or licensed to RUNRIO, subject to copyright and other intellectual property rights under the laws of the Philippines, foreign laws and international conventions. You may not use, copy, or distribute of any of the Marks found on the Site unless otherwise expressly permitted.

XV. Changes to Terms of Service

RUNRIO may change these Terms of Service (“Updated Terms”) from time to time. Unless the changes in the Terms of Service are for legal or administrative reasons, RUNRIO will provide reasonable advance notice before the Updated Terms become effective by posting the Updated Terms on the Site.

Your use of the Site after the effective date of the Updated Terms constitutes your agreement to the Updated Terms. You should review these Terms of Service and any Updated Terms before using the Site.

XVI. Miscellaneous

a. In the event that any provision of these Terms of Service is deemed by any competent authority to be unenforceable or invalid, the relevant provision shall be modified to allow it to be enforced in line with the intention of the original text to the fullest extent permitted by applicable law. The validity and enforceability of the remaining provisions of these Terms of Service shall not be affected.

b. You agree that all documents or notices that we wish to send you or are entitled to send you electronically may be delivered to your e-mail address which was provided upon registration.

c. Subject to applicable law, all disclaimers, indemnities and exclusions in these Terms of Service shall survive termination of the agreement between us for any reason.

d. No single or partial exercise, or failure or delay in exercising any right, power or remedy by us shall constitute a waiver by us of, or impair or preclude any further exercise of, that or any right, power or remedy arising under these terms and conditions or otherwise.

e. Unless expressly agreed in writing otherwise, these Terms of Service set out the entire agreement between you and us with respect to your use of the Site and supersede any and all representations, communications and prior agreements (written or oral) made by you or us.

f. These Terms of Service are governed by and construed in accordance with Philippine law. In the event of any matter or dispute arising out of or in connection with these Terms of Service, you and RUNRIO shall submit to the exclusive jurisdiction of the courts of Pasig City.

Last updated on June 28, 2017.


I confirm having read and understood and agree to the foregoing Terms of Service.