Terms of Service

1. Acceptance of Terms

By accessing or using LendFriend ("the Platform"), you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use the Platform.

2. Description of Service

LendFriend is a community lending platform that facilitates interest-free loans between community members. The Platform:

• Allows users to create loan requests
• Enables community members to fund loans
• Calculates Trust Scores based on connected business data
• Facilitates loan repayments through smart contracts

3. Eligibility

To use LendFriend, you must:

• Be at least 18 years of age
• Have legal capacity to enter into contracts
• Have a compatible cryptocurrency wallet
• Comply with all applicable laws in your jurisdiction

4. User Responsibilities

Borrowers

• Provide accurate information in loan requests
• Use borrowed funds for stated purposes
• Make timely repayments according to loan terms
• Maintain accurate connected platform data

Lenders

• Understand the risks of lending (see Section 7)
• Only lend amounts you can afford to lose
• Conduct your own due diligence on borrowers

5. Trust Score

The Trust Score is calculated based on data from connected business platforms. It is provided for informational purposes only and:

• Is not a credit score or credit rating
• Does not guarantee loan repayment
• Should not be the sole factor in lending decisions
• May not reflect current financial circumstances

6. Smart Contracts

Loans on LendFriend are facilitated through smart contracts on the blockchain. By using the Platform, you acknowledge that:

• Smart contract transactions are irreversible
• You are responsible for verifying transaction details before confirming
• Gas fees and network costs are your responsibility
• Smart contracts may contain bugs despite our best efforts

7. Risk Disclosure

LENDING ON LENDFRIEND CARRIES SIGNIFICANT RISKS:

• Default Risk: Borrowers may fail to repay loans
• Smart Contract Risk: Technical vulnerabilities could result in loss of funds
• Cryptocurrency Risk: Value of USDC or other tokens may fluctuate
• Regulatory Risk: Laws governing cryptocurrency lending may change
• No Insurance: Funds are not insured by any government agency

Only lend amounts you can afford to lose entirely.

8. Prohibited Activities

You agree not to:

• Provide false or misleading information
• Use the Platform for money laundering or illegal activities
• Manipulate Trust Scores or platform data
• Interfere with the Platform's operation
• Violate any applicable laws or regulations

9. Disclaimer of Warranties

THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED. WE DO NOT WARRANT THAT THE PLATFORM WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE.

10. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, LENDFRIEND AND ITS AFFILIATES SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING LOSS OF FUNDS, DATA, OR PROFITS, ARISING FROM YOUR USE OF THE PLATFORM.

11. Not Financial Advice

Nothing on this Platform constitutes financial, investment, legal, or tax advice. You should consult with appropriate professionals before making any financial decisions. We are not a bank, financial institution, or licensed lender.

12. Modifications

We reserve the right to modify these Terms at any time. Changes will be effective upon posting to the Platform. Your continued use of the Platform constitutes acceptance of the modified Terms.

13. Termination

We may suspend or terminate your access to the Platform at any time for violation of these Terms or for any other reason at our discretion. Outstanding loan obligations survive termination.

14. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the jurisdiction in which LendFriend operates, without regard to conflict of law principles.

15. Contact

For questions about these Terms, please contact us at:

Email: legal@lendfriend.com