WhatsApp Terms and Conditions

These Terms and Conditions (the "Terms") govern the use of the Chatbot services provided by LOLC Finance PLC (the "Company"), a licensed finance company incorporated in Sri Lanka. By accessing or using the LOLC Finance Chatbot on WhatsApp or the Company’s official website, you (the "User") agree to be bound by these Terms, the Company’s general Website Terms and Conditions, and the Privacy Policy. It is imperative that Users read and understand these Terms thoroughly before utilizing the Chatbot services.

1. DEFINITIONS AND INTERPRETATION

In these Terms, the following words and expressions shall have the meanings assigned to them:

2. ELIGIBILITY

To be eligible for using the Chatbot Services, the User must meet the following criteria:

1. The User must be an individual who has attained the age of majority (18 years or older) as per the applicable laws of Sri Lanka.
2. The User must be of sound mind and possess the legal capacity to enter into a binding contract.
3. The User must either be an existing customer of LOLC Finance PLC or an individual seeking legitimate information about the Company’s products and services.
4. Access to the Services must be made through a device and a mobile number that is legally registered in the User's own name.

3. SCOPE OF SERVICES

The Chatbot is designed to provide a range of services, which may be updated, modified, or expanded by the Company at its sole discretion. These services include, but are not limited to:

1. Product Information Users can obtain general information concerning interest rates, prevailing exchange rates, details of new product launches, and eligibility criteria for various financial products and services offered by LOLC Finance PLC.
2. Account Information Registered customers are provided with access to real-time account balances, a summary of recent transaction history, and digital statements for their accounts held with the Company.
3. Account Services
   • 3.1. Loan Disbursements: The Chatbot facilitates inquiries related to loan applications, status tracking, and information pertinent to loan disbursement processes.
   • 3.2. Payments: Users can access information regarding repayment schedules and, where integrated, facilitate payments through secure payment gateways.
   • 3.3. Card Services: The Chatbot supports requests for credit card Information, options for temporary blocking of cards, and inquiries regarding credit limits.

4. REGISTRATION AND AUTHENTICATION

Users acknowledge that utilizing the Chatbot, particularly on platforms like WhatsApp, necessitates the use of their Registered Number. For sensitive transactions, the Company is committed to employing multi-factor authentication (MFA) or other robust security protocols as mandated by the Central Bank of Sri Lanka (CBSL). The User bears sole responsibility for ensuring the security of their device and maintaining the strict confidentiality of any One-Time Passwords (OTPs) or other authentication credentials received.

5. CONSENT AND DATA PROTECTION

1. Consent for Communication
   By initiating a conversation with the Chatbot, the User explicitly grants consent to receive automated messages and critical alerts, from LOLC Finance PLC via the chosen communication platform (e.g., WhatsApp, website chat interface). Further the personal data will be collected and processed for customer support, service delivery, security monitoring and related administrative purposes. For more information on Company privacy practices, user could refer to the Privacy Policy at https://www.lolcfinance.com/privacy-policy/
2. Data Processing
   LOLC Finance PLC is committed to processing User Information in strict compliance with the Personal Data Protection Act No. 9 of 2022 of Sri Lanka. User Information may be shared with authorized third-party service providers exclusively for the purpose of delivering and enhancing the Chatbot Services, under strict confidentiality agreements. Where Personal Data is transferred outside Sri Lanka, appropriate safeguards will be applied.
3. Security Warning
   Users are emphatically advised never to disclose highly sensitive information such as full Personal Identification Numbers (PINs), complete passwords, or Card Verification Value (CVV) numbers through the Chatbot. The Company will never solicit such details via automated chat interactions.

6. LIMITATION OF LIABILITY

LOLC Finance PLC shall not be held liable for any direct, indirect, incidental, special, or consequential loss or damage arising from, but not limited to, the following circumstances:

1. Any unauthorized access to the User’s WhatsApp account, other communication platform account, or personal device.
2. Technical failures, operational delays, or service interruptions attributable to WhatsApp Inc., internet service providers, or other third-party communication platforms.
3. Inaccurate, incomplete, or misleading information provided by the User during the Chatbot interaction.
4. Fraudulent actvites; or "phishing" attempts orchestrated by third parties impersonating the Company.

7. COVENANTS AND RESTRICTIONS

By using the Chatbot, the User expressly agrees and undertakes the following:

1. To refrain from using the Chatbot for any unlawful, illegal, obscene, defamatory, or otherwise inappropriate purposes.
2. All intellectual property in the Chatbot, its content, software, and interface is owned by or licensed to the LOLC Finance PLC or its licensors. The User is granted a limited, revocable, non-exclusive licence to access and use the Chatbot solely for lawful personal purposes. No rights are granted to copy, modify, decompile, or create derivative works.To promptly notify the Company immediately upon the occurrence of any event involving the loss or theft of their device, or any unauthorized use of their Registered Number or Chatbot access.
3. To ensure that all information provided to the Chatbot is accurate, complete, and up- to-date.
4. The User shall not reproduce, copy or redistribute for commercial purposes any materials or design elements of the services provided hereunder.
5. Any links or references to third-party sites, tools, or content are provided for convenience. The Company does not endorse and is not responsible for such third- party materials or their accuracy, availability, or practices.
6. The Company endeavours to make the Chatbot accessible; however, some features may be limited. Where these Terms are provided in multiple languages, the English version shall prevail in the event of inconsistency.
7. Certain features (e.g., payments, card controls, loan servicing) may be subject to additional terms, scheme rules, or regulatory conditions (including Central Bank of Sri Lanka directions). In the event of conflict, the specific terms and applicable regulatory requirements shall prevail for that feature.
8. Where the User applies for or requests a top-up loan facility in respect of an existing Gold Loan through the Chatbot platform, the User hereby acknowledges and agrees that such request constitutes a continuation of the said existing Gold Loan facility obtained from the Company.
9. The User further agrees that the terms and conditions of the existing Gold Loan Agreement shall continue to remain valid, binding, and in full force and effect until the Gold Loan facility, including any top-up facility granted under a new transaction number, is fully settled.

8. AMENDMENTS AND TERMINATION

The Company reserves the unilateral right to amend, modify, or update these Terms at any time without prior notification to the User. Continued utilization of the Chatbot services subsequent to any such changes shall constitute the User’s unequivocal acceptance of the revised Terms. Furthermore, the Company retains the right to terminate or suspend access to the Chatbot Services for any User at its sole discretion, particularly in instances of suspected fraudulent activity, breach of these Terms, or non-compliance with regulatory requirements.

9. GOVERNING LAW AND JURISDICTION

These Terms shall be exclusively governed by and interpreted in accordance with the laws of Sri Lanka. Any and all disputes, controversies, or claims arising out of or in connection with these Terms or the use of the Chatbot Services shall be subject to the exclusive jurisdiction of the competent courts of Sri Lanka.

10. Severability, Assignment, Waiver

If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force. The Company may assign or transfer its rights or obligations under these Terms to any affiliate or successor. No waiver of any breach shall constitute a waiver of any other or subsequent breach.”

11. Force Majeure

The Company shall not be liable for any delay or failure in performance due to causes beyond its reasonable control, including acts of God, natural disasters, epidemics, war, civil disturbance, labour disputes, failures of utilities or telecommunications, third-party platform outages, or regulatory actions

12. Indemnity

The User agrees to indemnify and hold harmless the Company, its directors, officers, employees, and agents from and against any losses, claims, liabilities, damages, costs, and expenses arising out of the User’s breach of these Terms, misuse of the Chatbot, or violation of law or third-party rights

13. Headings

The User agrees to indemnify and hold harmless the Company, its directors, The headings used in these Terms and Conditions are for convenience only and shall not affect the interpretation or meaning of any provision contained herein.

14. Contact Information

For any queries, concerns, or complaints pertaining to the Chatbot Services or these Terms, please contact:

1. Address: LOLC Finance PLC No. 100/1 Sri Jayewardenepura Mawatha, Rajagiriya, Sri Lanka.
2. Hotline: 1317 / 0115 715 555
3. Email: [email protected]
4. Website: https://www.lolcfinance.com

15. Notices

1. Deemed Delivery:
   All notices, updates, alerts, policy changes, and messages sent through the LOLC Chatbot Service shall be deemed delivered once transmitted to the User’s registered mobile number, WhatsApp account, email address, postal address, or any other communication channel provided by the User and registered with LOLC Finance PLC. Such notices are effective upon dispatch.
2. Automated Communications:
   The User acknowledges that messages sent through the Chatbot Service are automated and may not be reviewed by a LOLC representative. The User is responsible for reviewing such messages and taking necessary action.
3. User Notices to LOLC: Any notice or request from the User must be submitted through the official customer service channels published on the LOLC website, or by hand delivery or registered post to the LOLC Finance PLC at No. No. 100/1 Sri Jayewardenepura Mawatha, Rajagiriya, Sri Lanka. Messages sent to the Chatbot will not be treated as formal notices.
   
4. Failure of Delivery:
   LOLC Finance PLC shall not be responsible for failure in delivering notices caused by inaccurate, outdated, or inaccessible contact details provided by the User, or due to technical issues beyond LOLC’s control.

16. Acceptance and Signing

1. Manual (Physical) Acceptance
   If the User accepts these Terms and Conditions physically, the User’s manual signature (wet signature) on the relevant document shall be treated as valid acceptance. If the User accepts these Terms and Conditions electronically as described in Section B below, no physical signature will be required, and any physical signature fields appearing in this document shall be treated as not applicable.
2. Electronic Acceptance
   If the User accepts these Terms and Conditions electronically, the User acknowledges and confirms that they have read, understood, and agreed to all terms by clicking “I Agree,” “Accept,” or any similar confirmation option on the LOLC Finance PLC Chatbot or related digital platform, or by completing any authentication process required by LOLC (such as OTP verification or similar). The User agrees that such electronic acceptance shall be deemed as valid as a manual signature and shall constitute the User’s binding acceptance of these Terms and Conditions. LOLC Finance PLC may, at its discretion, produce or print electronic records of such acceptance, and the User agrees that such records shall be valid evidence of acceptance.