Terms of Use
These Terms of Use govern the use of Credaris AG ("Credaris") personal loan referral services by private individuals ("Users"). Upon acceptance they represent a binding agreement between the Parties. The contract for each personal loan enquiry is concluded separately.
Credaris is a product brand of Credaris AG. Among other offerings, Credaris AG provides its customers with advisory and intermediary services in the area of personal loans. It is headquartered in Zurich, Switzerland.
Services provided by Credaris
The services provided by Credaris consist of validating customer needs, producing a non-binding assessment of credit standing and creditworthiness, advice on the loans available via Credaris and the referral of such loans, including the submission of the User's loan applications to the providers of personal loans ("Personal Loan Providers") accessible via Credaris. Credaris cannot guarantee that there will be one or more Personal Loan Providers prepared to grant a loan. There is no entitlement to receive an offer. In particular, Personal Loan Providers are entitled to reject User applications referred by Credaris without stating reasons.
As part of its services as loan intermediary, Credaris may collaborate with external partners, such as other loan intermediaries ("Partner Intermediaries"), who support Credaris with the preparation of loan applications to Personal Loan Providers. Specifically, Partner Intermediaries may have direct contact with Users and are able to view the submitted documents in full.
As part of its services, Credaris makes validated loan applications entered by the User available to Personal Loan Providers that are accessible via Credaris and have been selected by the User. It provides such loan applications via e-mail or fax/post, and invites these Personal Loan Providers to review them. For this purpose, Credaris discloses the User's details as well as any submitted documents (in particular salary certificates, copies of ID cards) to Personal Loan Providers, and passes on the User's loan application to such Providers using unencrypted e-mail in each case. Upon receiving a loan application from Credaris, Personal Loan Providers may exchange with Credaris the information needed to check the application and credit standing and to conclude and process the contract. Where necessary, Credaris may also submit loan applications to individual Personal Loan Providers via intermediate brokers, in other words contractual partners of the selected Personal Loan Provider, rather than to the Provider directly. In this case, such intermediate brokers alone are responsible for forwarding the application, the provisions agreed here apply mutatis mutandis, and part of the compensation (see next section) is paid to this intermediate broker. The User hereby confirms to Credaris and the selected Personal Loan Providers that all of the information in the loan application is correct.
Credaris does not arrange any loans to finance transactions in financial instruments within the meaning of Art. 3 let. a of the Swiss Federal Financial Services Act, FinSA (Finanzdienstleistungsgesetz). Consequently, Credaris does not perform any financial services as described in FinSA and is not bound by the regulatory requirements for financial service providers laid down in this statutory instrument.
The affiliated Personal Loan Providers are responsible for the further processing of the loan application, and in particular for assessing the borrower’s credit standing as described in the Swiss Consumer Credit Act (Konsumkreditgesetz). For the purpose of assessing the loan application and managing the contractual relationship, the User/borrower hereby authorises the Personal Loan Providers to obtain information from third parties, especially from banks, external credit rating agencies, credit bureaus, credit intermediaries, employers, the group companies of the Personal Loan Providers, government agencies, authorities (e.g. debt enforcement and tax offices, citizens' registry offices, child and adult protection agencies), the ZEK central office for credit information, the IKO office for consumer credit information and other institutions designated by law or other offices, and to report to the ZEK and IKO, and to other institutions where the corresponding legal obligation exists. The details reported include, in particular, the type of loan or financing, the amount and terms together with the personal details of the applicant and any serious payment default or misuse, if applicable. For the aforementioned purposes the User exempts these bodies to the extent legally permitted and required from bank-client, postal, official and business confidentiality and secrecy obligations. The User acknowledges the right of the ZEK and IKO to provide its members with information on the reported data. Any data embargoes imposed by the User are deemed lifted with respect to Personal Loan Providers. The User hereby agrees that their selected Personal Loan Providers or their contractual partners outside Switzerland may retrieve, process and store certain credit information obtained from third parties about the User, specifically including that obtained from the ZEK and IKO, in connection with application reviews and contract handling. By accepting the Terms of Use the User authorises the lending bank (and any third parties instructed by it) to obtain in writing or by e-mail the information from land registry offices in Switzerland that is needed to check the details given.
Personal Loan Providers may outsource some of their services to third parties ("Service Providers"), especially the completion of business processes, IT security and system control, market research and marketing, the calculation of business-related credit and market risks, and contract administration tasks such as application and contract processing, debt collection and customer communications. Users hereby agree that Service Providers may access all of their data that is processed in this context. The Personal Loan Providers provide these Service Providers with the data they require to fulfil their contractual obligations, and may also transmit data outside Switzerland for this purpose.
The offers made by Personal Loan Providers are then transmitted by Credaris to the User. As a rule, any further communication takes place between Credaris and the User. However, any personal loan agreements are concluded exclusively between the User and the Personal Loan Provider. Credaris is not responsible for these offers, their correctness, continued applicability, appropriateness or market conformity, neither does Credaris check such offers or provide any guarantees in respect of them.
Credaris creates and operates the service and its further offering at its own discretion and may change the service, processes and contractual terms, or suspend its offering, at any time.
Compensation for Credaris
Users do not pay any fees for using the Credaris service. However, the User acknowledges and agrees that Credaris receives compensation from the Personal Loan Providers to which it submits a financing application from the User, and is free to use this compensation as it wishes. This compensation currently amounts to approx. 0.4% to 6.0% of the loan amount and is an element of how Credaris finances its services. The User acknowledges that this financing model complies with Art. 35 of the Swiss Consumer Credit Act (Konsumkreditgesetz, KKG), and agrees not to challenge this compensation.
Data processing, data protection
Information on how Credaris processes and protects the User's personal data is contained in the Credaris Privacy Policy. However, the privacy policies of third parties apply to the processing by those third parties of data entered on their websites or apps. In other words they may also process this data in accordance with their own data protection rules. Furthermore, the User permits the Personal Loan Providers contacted on their behalf, and their partners, to provide Credaris with information regarding their transaction to the extent that this is necessary for Credaris to ascertain the conclusion of the transaction and to determine, calculate and check the amount and due date of any commission. In this respect, the Personal Loan Providers are released from any applicable banking confidentiality regulations. Credaris itself is not subject to banking confidentiality regulations. Credaris may record the telephone conversations conducted in connection with the service for the purposes of quality assurance, preservation of evidence and further development. The User agrees to this.
Newsletter, commercial communication
In connection with Credaris offerings, Credaris may from time to time send newsletters or other content (including that of a commercial nature) to the address, number or app of any User who has registered with it using their e-mail address or any other electronic address or mobile phone number, or who has installed a Credaris app. The User agrees to this, but may halt the delivery or display of such communications at any time, free of charge. Further information on this facility will be provided at the end of the message in question.
Copyright, use of the website
All information and content published under the www.credaris.ch web address, in any presence by Credaris on third-party websites or otherwise published by Credaris online, especially price comparisons for personal loans, as well as corresponding presentations, designs and software, are protected by copyright. The rights in question are held by Credaris or the third party concerned. Credaris and the third parties concerned expressly reserve all rights in this regard. No rights whatever to software or other elements of the content of the www.credaris.ch web address or to other content that can be called up about the offers are transferred to you through your use, downloading or copying of that content. This also applies to the CREDARIS name, which is a registered trademark.
Credaris must give its consent to all commercial use of the service and to other Credaris offerings and content. "Commercial use" refers in particular to the offering of advisory services based on Credaris comparisons. Permission for commercial use may be requested by e-mailing [email protected]. Dealings with third parties are subject to the terms of these third parties.
The User undertakes not to use the information provided by Credaris in any shape or form beyond its intended original purpose. In particular, the User will refrain from copying, publishing or otherwise reproducing the available data in any form, including on the internet.
Links to Credaris offerings are explicitly permitted, providing it remains clear that such offerings originate from Credaris. Credaris reserves the right to take legal action against any breach of these Terms of Use.
No guarantee on the part of Credaris
Credaris makes every effort to ensure that all of the information it presents is up to date and accurate. However, Credaris offers no explicit or implicit assurance or guarantee that the information is correct, reliable or complete. Credaris expressly reserves the right to change the published information at any time and to deny public access to its information.
Credaris also excludes any and all other guarantees with respect to its offerings, work results and services. It does not guarantee that these will be available without interruption, for a certain period of time, or in a particular manner. Users use Credaris services and offers, and the information they contain, at their own risk. This also applies to the offers supplied by the Personal Loan Providers.
Other websites may be reached from the www.credaris.ch website via links inserted by Credaris. Credaris cannot assume any guarantee or liability for these websites and their content.
Correctness of the information, correction, misuse
The User warrants and confirms that the information provided on the application form recorded by Credaris or by a third party working with Credaris is correct, that they have completed the application form themselves, and that no third party has completed the form on their behalf. If the User has entered or disclosed data relating to a third party (a spouse or registered partner, in particular) on the application form or elsewhere, they are responsible for obtaining the necessary authorisation, including consent to these Terms of Use, prior to completing the form. The User guarantees that this is the case. In the event of misuse, the User will indemnify Credaris and the third parties with which it works in full in respect of their expenses and any third-party claims.
No liability
To the extent permitted, Credaris excludes any and all liability, including that of third parties with which it works in relation to the registration of data for applications. This exclusion also applies in the event of negligence. In particular, Credaris is not liable for any vicarious agents, direct or indirect damage or loss (including consequential loss), loss of data, or delays. This also applies in cases in which the possibility of such damage or loss has been indicated.
Further points
Users recognise that lending is prohibited if it results in excessive indebtedness (see Art. 3 (1) (n) of the Swiss Unfair Competition Act (Bundesgesetz über den unlauteren Wettbewerb)).
Credaris may amend these Terms of Use at any time without stating reasons. Where still relevant to current contracts, Credaris will communicate such changes to Users in a suitable manner at least 20 days in advance. Where no objections are lodged within the specified period, the User is deemed to have accepted the changes. Credaris may otherwise terminate the agreement for cause. Any and all other amendments to or agreements deviating from these Terms of Use must be made in writing. These Terms of Use and the legal relationship between the User and Credaris are subject to Swiss law exclusively. To the extent permitted, the exclusive place of jurisdiction is the registered head office of Credaris AG in Zurich, Switzerland. However, Credaris may also take action against the User before the courts at the latter's place of residence.
Zurich, 1 March 2022