Asset Finance  through peer Lending

When you become a lending member of Ablrate, you must comply with the terms and conditions laid out below. Other terms, such as our privacy policy form part of the terms of use of our site.

We would recommend you read the following terms carefully before you decide to become a lending member and print a copy for you to refer to in the future. It is important that you understand these terms because by using the Ablrate Platform and agreeing to become a Lending Member, you are confirming that you have read, understood and agree to the terms and conditions stated here. If you don't agree to our terms we cannot offer you the facilities for lending on the platform and you must cease use of our platform.

If you do not understand the terms you may want to seek independent advice on the use of the Ablrate Platform and your obligations when you become a Lending Member. In any event we would recommend that you seek the advice of your independent financial advisors before making any investment decisions.

We may refer to "we", "our", "us" in these terms, this means Ablrate and its owners Aviation and Tech Capital Limited. When we refer to the "platform" or the "system" we mean the Ablrate website and all online services provided by us, all data managed or transmitted by us and anything displayed online by us. When we reference "you" or "your" we mean a user of our Platform and services. When we refer to a "lending member" we mean a registered and verified user of the Platform.

When a loan is struck between a borrower and lenders a standard loan document is created along with the individual terms of the loan. These together are "loan Documents". This document is separate from the terms detailed here. If there is any conflict between what is detailed in these terms and what is detailed in the Loan Documents, the Loan Documents will be the terms that are binding.

Each agreement between each lender and borrower comprises our standard Loan Conditions and Key Contract Terms (together the "Loan Contract"). The Loan Contract is a separate agreement and is governed by separate terms and conditions. If there is a conflict between these terms and conditions and the Loan Contract, the Loan Contract will prevail.

Some Lending Members maybe corporations or other entities such as partnerships. If you use the Platform on behalf of such an entity you are doing so with the full authority of that entity. If you do not have authority you must cease using the Platform.

1. Becoming a Lending Member

1.1 To become a Lending Member you must;

(a) be an individual, LLP, limited company or public body;
(b) be over 18 years old;
(c) if you are a limited company, you must be registered with Companies House or an equivalent body in your country;
(d) if you are a public body, you must be registered or formed with the relevant authority in the UK (excluding the Channel Islands and Isle of Man);
(f) you must have a valid bank or building society account; and
(g) you must register your details on the website http://www.ablrate.com.

Where a prospective lender does not meet the criteria listed above, the lender may be otherwise permitted to become a lender on Ablrate by written confirmation from Ablrate.

1.2 Ablrate's function is to perform an introductory service on behalf of Lending Members and Borrowers who wish to enter into loan transactions. We also facilitate the payment and collection of payments in connection with those loans. We do not perform any management function in relation to you making loans. The decision to lend to a Borrower is under your complete control and as such nothing Ablrate posts on this Platform is intended to be a recommendation by Ablrate to enter into a particular loan.

1.3 Ablrate gives each transaction a risk classification at the time a loan request is processed, which is based on information included in the borrower's application and the results of an further checks made.

1.4 While Ablrate adds value to analysing the credit risk of any transaction on the Platform, the provision of a risk classification is intended to be informative only and a lender must form its own opinion regarding the creditworthiness of a borrower and undertake its own research, analysis and assessment of each borrower for each loan and, where appropriate, seek its own independent financial advice.

1.5 Ablrate accepts no responsibility and disclaims all liability for any information posted about a borrower which is made available to Lending Members through our Platform. Ablrate may update information posted by the borrower, but is not obligated to do so (including before, during, or after a loan is made).

1.6 While securing a loan with assets can give more comfort as to likely repayment to a Lending Member, Ablrate accepts no responsibility for the borrower meeting their financial obligations to the Lending Member in transactions arranged through the Ablrate Platform where such assets are subject to recourse under the loan made on the Platform.

1.7 As a Lender you cannot also borrow on the Ablrate Platform. The only exception to this is where you are a Director or Proprietor of a business borrowing money and want to act as a Lender in a different capacity.

1.8 The information collected on Ablrate is important from a legal standpoint but also for the integrity of the system. You warrant, therefore, that all information you provide to us in the course of the registering process, any subsequent information submitted to us and in the lending process, is true and accurate in all respects. You will update us if any of the information you provide to us changes.

1.9 Once you have registered to become a Lending Member on the Ablrate Platform you will be able to review certain information about transactions on our Platform. However, certain information is only available to verified members and you are only allowed to deposit funds with us when we have completed our statutory duty to identify our Lending Members. We have integrated the Tracesmart ID verification on our system. We use the information from Tracesmart and our own proprietary internal criteria when assessing applications to become a Lending Member. Ablrate has complete discretion whether to accept an application to become a Lending Member. If the Tracesmart system is unable to identify you through their online system we may require additional information to complete your application. If all of the appropriate information is not received, is incomplete or is not, in our absolute discretion, valid, then you will not be able to become a Lending Member on our platform. We may also place limitations on your account or we may suspend your account if we believe that activity on your account is contrary to our legal obligations, against our policy or not in the interest of our Platform, other Lending Members or Borrowers.

1.10 Transferring money into your Ablrate account can be made via debit card or bank transfer, we do not accept credit cards. We have absolute discretion on the method of payments we accept. We only transfer funds back to the account from which they came. It is very important when transferring money to us to keep a record of your transfers and to quote your Ablrate username or account number on any transfers you make.

1.11 As soon as we receive and allocate funds to your Ablrate lender account you can start lending. There are no fees payable to set up an Ablrate Lending Member account.

1.12 Money in your Ablrate Lending Member account will be held by us in a segregated client account with NatWest Bank until or unless it is lent to a borrower at which time it will be transferred to the relevant borrower's Ablrate account.

1.13 You may only withdraw funds that are in excess of the bids you have pending. Funds can only be made into the account from which they were deposited unless changes have been made that satisfy our anti-money laundering criteria, such as a change of bank etc.

2. Username and password

2.1 On registration to the Ablrate system you must provide a username and email address, enter a password and provide answers to security questions. The information you provide in this process is very important and the privacy of such information is solely yours. You are solely responsible for the activity on your account including anyone using your password and username. If you authorise anyone else to use your username and password you are responsible for their activity on your account. Any loss or breach of security of your password and username should be reported to us immediately using the contact details here or the phone numbers supplied on the platform and on correspondence with you.

2.2 You agree not to circumvent the systems in place within the platform, our servers or anything connected with our system, nor access our system by any other means than the username and password assigned by you to your account.

2.3 In all circumstances where we suspect that the person logged onto your account is not you or we suspect illegal activity or fraudulent activity or unauthorised use, we reserve the right not to act on your instructions and to be able to suspend your account until we are satisfied that the instruction made are correct. We disclaim any liability arising for not acting on instructions under these circumstances.

3. The lending process

3.1 There are two ways to lend money on Ablrate:

(a) By choosing those businesses and transactions you wish to lend to; or

(c) By choosing to purchase parts of a loan (we call these "loan units") already lent from an existing lender, using the Ablrate Secondary Market.

You are able to use both these methods to build your portfolio of loans.

4. The bidding process

4.1 All application to borrow on our Platform are verified and carefully reviewed by our underwriting staff. They are classified by risk on data scrutinised from publically available data and by personal interaction between the borrower and ourselves. Borrowers and the transactions they wish to post who pass our criteria are able to create a transaction page where the loans they are requesting can be reviewed by our Lending members.

4.2 Once you have decided which transaction you would like to lend into, you chose the amount of money that you would like to lend to that business, the interest rate you would like to receive (unless it is a fixed rate transaction). If you have sufficient funds in your account this offer to lend (known as a "Bid") then becomes active (known as a 'Pending Bid"). The minimum bid is £100, there is no maximum bid (provided sufficient funds are on account). You can increase your bid in multiples of £100. At our absolute discretion, we may change the minimum bid at any time.

4.3 When two Lending Members bid the same amount and interest rate, the bid which is made first ranks above that of an alternative bid. Once each loan is funded our system will calculate the best bids available to complete the loan and those funds will then be deemed to be closed and the funds transferred to the borrowers account after drawdown documents are complete. Any unsuccessful bids will be unfrozen in the Lending Members account and available for further bids.

4.4 All bids on the marketplace will be subject to such minimum bid rates that Ablrate may set in relation to a loan from time to time.

4.5 All bids made by you in an auction on a loan request page are final and cannot be withdrawn unless:

(a) there are sufficient Active Bids from other lenders at lower interest rates to fully fund the total loan requested;
(b) the loan request period expires and the loan is not fully funded;
(c) the borrower declines an aggregated loan request offer from you and other lenders on Ablrate; or
(d) we withdraw an auction for a loan request.

4.8 A loan must be fully funded to complete unless a partial fill has been authorised. A completed loan is made up of all the bids received with the lowest bid for that loan sufficient to fill the loan requested by the borrower on the transaction. The completion of the loan is subject to the acceptance of the loan by the Borrower and where all drawdown documentation has been completed to the satisfaction of Ablrate.

4.9 Ablrate can also be used to search for loan units that are listed for sale by existing lenders of Ablrate on our secondary market, which you can purchase if you have sufficient funds in your Ablrate lender account.

4.10 We reserve the right to withdraw any loan transaction for any reason at any time (unless completed). We reserve the right to adjust our minimum or maximum bids at any time or for any reason.

4.11 You can monitor your loan portfolio in the My Account section of the platform.

5. The Loan Contract

5.1 Once a loan request is fully funded by bids from our Lending Members and the Borrower has accepted the loan, you automatically enter into the Loan Contract (which comprises our standard loans terms and the specific term of the transaction on which you bid) with the Borrower for the loan units you bid on. The money is then transferred from your account at Ablrate to the account held by the borrower. The drawdown documents will be completed (if not already done so) by the Borrower and the funds will be available for the Borrower to drawdown for the purposes of the loan.

5.2 Until the loan request has completed no interest will be earned by you unless the loan is indicated as an ‘Instant Returns’ loan where interest is accrued from the day you bid.

5.3 In the circumstances where you have purchased a loan on our secondary market, you will become a party to the Loan contract for that particular transaction and your money will be transferred from your loan account to that of the transferring Lending Member.

5.4 Each time you purchase or sell a loan part, you will be shown the Novation Agreement, which will detail the legal terms of your purchase or sale.

5.5 In all Loan contracts and legal correspondence with the Borrower in the documentation we will quote the Lending Member's address as "c/o Aviation and Tech Capital Limited" and state our postal address. All Lending Members agree that all notices and communications given to it by the Borrower may be sent to our postal address.

6. Interest and repayments

6.1 The monthly repayments due to you on each loan part can be viewed in the My Account section of the platform. The Loan Contract governs the payment of these amounts. We will post the interest paid to your account each month.

6.2 All repayments and interest accrued will be paid to your Ablrate Lending Member account.

6.3 Each loan will be for the period specified in the Loan Contract applying to it.

6.4 All interest payments will be paid 'Gross' without any deduction for tax. It is solely the responsibility of the Lending Member to report any tax payable on transactions on the Ablrate Platform.

6.5 We will provide an annual statement of interest earned for tax purposes.

6.6. In exceptional circumstances and in its absolute discretion, Ablrate (acting as your agent and on your behalf) may agree with the borrower to restructure the loan and amend the Loan Contract in any of the following (limited) ways:

(a) to increase the term by one year, with a corresponding increase in interest rate to the higher of 13.5% or 4% above your interest rate;

(b) to increase the term by two years, with a corresponding increase in interest rate to the higher of 15.5% or 5.5% above your interest rate; or

(c) to increase the term by three years or more, with a corresponding increase in interest rate to the higher of 17.5% or 7% above your interest rate.

6.7 Where we believe that restructuring the loan would be in the interests of our Lending Members, you explicitly agree to Ablrate (acting as your agent) restructuring the loan and amending any contracts with the Borrower. We will notify you of our intentions to amend the loan agreements not less than 1 week before making such arrangements, but will seek to have agreement with all lenders vbefore such an action, however, if a quorum cannot be reached Ablrate will have absolute discretion to act in what we believe is in the best interest of all Lenders.

6.8 You agree that Ablrate will be acting as agent on your behalf in

(a) negotiating and agreeing any amendments to the Loan Contract; and
(b) entering into the amendment to the Key Contract Terms,
in accordance with clause 6.6.

6.9 You hereby appoint Ablrate (for the duration of your membership of Ablrate) as your agent with full power and capacity to carry out those amendments without your specific agreement. You will then be bound by those changes. You agree and acknowledge that Ablrate shall take on no liabilities, obligations or rights under the Loan Contract as a result of such agency, and you agree that you will continue to be solely liable for and responsible for the rights and obligations under the Loan Contract (as amended).

7. Selling your loan part

7.1 Ablrate provides a Secondary Market for loans on our Platform. This allows you to gain access to money you have lent previously by selling your loan units to other Lending Members. There are some restrictions on selling loan units, you can't sell loan units:

(a) with one repayment remaining;
(b) that are in arrears (have currently missed a repayment) or are in default (that have missed consecutive repayments);

7.2 Our system allows a potential buyer of your loan units to make an offer based on the return they would like to see from the loan. This offer maybe higher or lower than your initial capital investment. It is at your sole discretion to accept or reject offers from buyers to purchase your loans.

7.3 The sale price of the loan is calculated by a formula which looks at the outstanding principal amount and the interest still to be paid on the loan. This is calculated against the return that the buyer is seeking. Our system will calculate the purchase price of the offer that corresponds with the return sought by the buyer. You may also state a fixed price for your loan units or auction them to the highest bidders.

7.4 If you sell loan parts, the sale proceeds will be transferred to your Ablrate lender account from the buying lender's Ablrate lender account. There are no Ablrate loan part sale fees for 12 months.

8. Lender fees

8.1 There will be no Lender Fees on the primary market, however we reserve the right to charge such a fee in the future.

8.2 If you decide to sell a loan part, there will be No Charge or Sale Fee on those loan units sold for 12 months (the "Sale Fee").

9. The role of Ablrate

Our role is to provide an administrative role and introductory service between Borrower and Lending Members. We are not a party to loan contracts unless we are acting as Lender in our own capacity. We do have third party rights, such as Borrower fees under the Loan contracts but we do not have an economic risk directly in any contracts related to transactions on our system. If we cease trading we have arrangements in place with a company that would provide services to continue the administration of loans until their conclusions.

10. Security and the role of Ablrate

10.1 Where a loan is secured by assets or guarantees:

(a) In secured loans the loan contract will indicate the security present in the contract. This may take the form of the asset in the transaction or may be personal guarantees or bank guarantees. In the event that the Borrower defaults in their obligations on the loan you agree that Ablrate may instruct third parties to recover the loan assets on your behalf to secure the loans made.

(b) Where the loan contract indicate that a loan is to be a secured transaction you should be aware that in some cases, where bank finance is present in the transaction, your security may be subordinate to the bank and security would be known as a 'second charge' on the asset. This will be made clear in each transaction. Where a second charge is in place the first charge holder may have the right to liquidate the asset to recover their loan which may result in the loss of some, or all of the capital invested.

10.2 In the circumstances described at 10.1(a) and / or 10.1(b), you agree that Ablrate (or a nominated third party) will act on your behalf as security agent in respect of any of the borrower's liabilities to you under each loan. All communications to a borrower in connection with any such security will be made through Ablrate.

10.3 Where we have been provided with information by a borrower, we may provide to you as lender certain information about the assets of that borrower and/or an asset register detailing such assets together with estimated forced re-sale value of such assets on enforcement. In such circumstances, any asset valuation provided will be indicative of the value of the asset or assets only and realisation on enforcement in connection with the sale of such asset or assets may be lower (or higher) than the value set out in the asset register. Also within aircraft transactions, part of the value of the transaction is in the residual value of the aircraft. These values are based on industry expert information such as Flight Global Ascend; however these residual values are indicative.

10.4 The existence of such assets in a security agreement and/or legal mortgage and/or chattels mortgage should not be considered to be a guarantee of certain repayment in the event of failure by the borrower in meeting its payments.

10.5 You agree that Ablrate (or a third party) shall be entitled to be repaid and reimbursed out of the proceeds of any recovery under any all assets security agreement and/or legal mortgage and/or chattels mortgage and that you will pay all reasonable costs incurred by Ablrate (or a third party) in enforcing the security or in complying with any instructions from you in connection with any security agreement. You will only be responsible for payment of such costs out of the proceeds of any recovery and to the extent that such costs cannot be recovered by Ablrate from the relevant borrower.

11. Large Asset Finance and the role of Ablrate Assets Limited

11.1 Where the loan contract terms indicate that the loan is to be an asset finance loan, the loan shall be used by the borrower in procuring the use of a specific business asset or assets. The loan, therefore, must be paid by the borrower to a third party to satisfy the procurement of the asset under the applicable conditional sale or lease agreement made by the borrower.

11.2 In such circumstances Ablrate may obtain a third party asset valuation report (which may be provided to you as lender) in connection with the underlying asset. Such valuation will be indicative of the value of the business asset or assets only.

12. Missed payments

12.1 You agree that in the event of missed payments on a loan Ablrate will take the administrative steps set out in clauses 12.2 to 12.4 below on your behalf. In certain circumstances, we may act outside and/or ahead of the following process to pursue missed payments or loans (whether or not in formal default) where we consider this to be in the best interests of lenders. We may recover our reasonable costs from any amount recovered.

12.2 If the borrower misses a payment or only partially pays, the amount due to you and the other lenders, we (ourselves or through an agent acting on our behalf) will contact the borrower to inform them that we will reattempt to collect the outstanding payment in respect of that loan the working day after the payment was due. If our reattempts to collect the funds fails 5 working days after the payment was due, the borrower's account will be treated as an overdue account and we will continue to attempt to collect the funds. In most of our transactions a leasing agent will be managing the lease on your behalf (this will be detailed in the loan transaction documents) and it will be the responsibility of the lessor to recover missed payments. We may, at our absolute discretion, require the lessor to guarantee the payments on your loan, and as such, we will pursue these payments from the lessor on your behalf.

12.3 If the borrower misses, fails to pay or only partially pays three or more consecutive monthly instalments or four out of six consecutive monthly instalments, or if the Borrower is otherwise in breach of any of the Loan Conditions, the loan may be placed into default and a Collections Agency may be engaged to attempt to collect the total loan amount outstanding. The Collections Agency may deduct a large amount of what it recovers from the borrower and the remaining proceeds will be distributed to lenders; where possible the fees associated will be added on to the loan amount outstanding so as not to reduce the amount lenders receive.

12.4 If the Collections Agency is still unable to collect the debt, Ablrate will notify you that all of the outstanding loan parts will be novated to leasing agent. We need to novate the debt to our leasing agents so that there is only one claimant in any legal claim against the borrower, and in order to litigate against the borrower. You will have 14 days to opt out of this novation if you decide to pursue the borrower yourself.

The leasing agent will then investigate the amount of debt that is likely to be successfully recovered through the courts. If the leasing agent deems it appropriate they will instruct solicitors to file court claims to recover the debt. The leasing agent will pay back to lenders in their proportionate share any funds successfully recovered, less its costs incurred during that recovery. The leasing agent will act in a fair and equitable manner to achieve maximum recovery for all affected lenders, which may include extending payment terms or selling the debt to a third party.

12.5 Where there is an asset involved in the loan transaction:

(a) The leasing agent may terminate its consent to the lessee's possession of the business asset or assets and the lessee shall be required to deliver to the leasing agent the assets that are subject to the conditional sale or leasing arrangement. The leasing agent (or its authorised representatives) may, without notice and at the borrower's expense, take possession of the assets;

(b) upon recovery of the business asset or assets, and failing any full settlement of all liabilities due by the borrower, the leasing agent may as legal title holder of the business assets elect to sell the asset or assets at such price that it deems fit. In such circumstances, any asset valuation report provided as described in clause 11.2 above will be indicative of the value of the business asset or assets only and any realisation or sale proceeds in connection with the sale of such asset or assets may be lower (or higher) than the value set out in such asset valuation report. The leasing agent, nor Ablrate is under no obligation to sell the asset or assets under the circumstances set out in this clause 12 for the value set out in the asset valuation report;

(c) The leasing agent shall (after allowing for the costs of recovery and sale) hold and manage the net realised funds or the asset and shall at its discretion transfer such funds to Ablrate to be distributed to the relevant lenders (pro rata) in repayment of the underlying asset finance loan or loans. If, however, the leasing agent can re-lease the asset on the same or similar terms with a view to realising the obligations set out in the initial loan agreement, the leasing agent shall do so. You agree that any such re-lease of the assets that are in the best interest of all lending members in the transaction, shall be approved by yourself without further authorisation by yourself.

(d) any Realisation Proceeds shall only be transferred to Ablrate for distribution and payment to lenders within such period as the leasing agent deems reasonable following receipt of the sale proceeds and satisfaction of all related expenses.

12.7 Ablrate will keep you up to date with the progress of its efforts to collect missed payments and to recovery defaulted debt and such progress can be viewed in the My Account section of the platform.

13. Terminating your membership of Ablrate

13.1 If you choose to terminate your Lending Membership of Ablrate, you can do so at any time, provided you have no outstanding loans on the platform.

13.2 We may end your membership of Ablrate at any time and for any reason, including but not limited to if:

(a) you breach these terms and conditions;
(b) you breach any Loan Contract;
(c) we suspect that you have committed fraud, been involved in money laundering or other criminal activities;
(d) you use the Ablrate platform or any information accessible on or obtained from it for the purpose of canvassing or soliciting any person or enticing any person away from Ablrate;
(e) you use the Ablrate platform in any of the following ways:
(i) in any way that causes, or is likely to cause, the platform or access to it to be interrupted or damaged in any way;
(ii) for fraudulent purposes, or in connection with a criminal offence;
(iii) to send, use or reuse any material that is illegal, offensive, abusive, indecent, defamatory, obscene or menacing; or in breach of copyright, trademark, confidence, privacy or any other right; or is otherwise injurious to third parties; or objectionable; or which consists of or contains software viruses, political campaigning, commercial solicitation, chain letters, mass mailings or any “spam”;
(iv) to cause annoyance, inconvenience or needless anxiety; or
(f) there is no activity in your Ablrate Lending Members account within a 12 month period.

13.3 On termination we will credit your bank or building society account with any funds left in your Ablrate lender account or send a cheque to the address last provided by you.

14. Lender's agreements with Ablrate

14.1 You agree that Ablrate does not warrant or represent that any borrower is guaranteed to pay all their liabilities to you and you also agree that our officers, directors, employees, shareholders or leasing agents are not liable for the debts of borrowers. You acknowledge that your use of the system and bidding on loans is entirely at your own risk.

14.2 Rates of returns that we quote on the Platform are for guidance only and are not guaranteed; you must evaluate each transaction on its own merits and come to your own decision to lend.

14.3 The information on the Platform does not constitute, nor should be taken as a recommendation, endorsement or approval of loan transactions or of the Borrower’s ability to pay their obligations. The information is not intended to be relied upon by Lending Members as the only information to be relied upon as a sole basis for making a loan. Lending members are encouraged to seek independent advice when making any loan decisions.

14.4 Ablrate or our leasing agents, make no representation as to the accuracy of the information displayed our any accompanying data, and we do not represent that the information or data is error free.

14.5 We do not guarantee that there will be sufficient bids on any loan to constitute a completion of the loan and therefore there is no guarantee that your fund will be lent out. We do not guarantee that there will be sufficient other lenders to buy your loans on our secondary market should you wish to sell your loans.

14.6 Where personal guarantees have been taken to provide extra security to your loans, you accept that the enforceability of these guarantees shall be subject to legal risk. Personal guarantees are open to challenge and where the guarantee is not made from a UK resident person such enforcement maybe difficult and expensive to enforce.

14.7 Where you have lent money to a Borrower in respect of an aggregated loan which is, in part, funded by a third party, such as a bank or by equity from a leasing agent you acknowledge:

(a) the entity supplying finance for such Loan has made its own determination of the transaction and the borrower’s ability to pay its obligations and that the third party funder will have put in place its own protections to secure its funds in the transaction;

(b) the partial funding of an aggregated loan to a borrower under the Ablrate platform by a third party does not provide an endorsement, recommendation or any warranty, either expressed or implied, about the activities and procedures of the Ablrate lending platform, the creditworthiness of loans facilitated or returns to be achieved.

15. Back-up servicer arrangements

15.1 If our platform were to fail or we become insolvent, we would transfer our member loan servicing obligations to a third party back-up servicer with whom we have entered into a back-up servicing arrangement. We reserve the right to use a back-up servicer prior to insolvency where such action is in the best interests of all of the lenders.

If this happens:

(a) you would not be able to sell any loan parts;
(b) you would receive distributions of funds to your external bank or building society account on a quarterly basis;
(c) the My Account page on the platform and the rest of the platform would not be available for access by you; and
(d) you would receive quarterly statements of repayments and continue to receive annual statements (for tax purposes).
The backup agent would continue to collect the Lenders Administration Fee. The back-up agent may charge each lender an additional fee; however, the total annual fees (including the Lenders Administration Fee) would not exceed 2% of the principal value of each loan part outstanding.

16. General terms

16.1 The information provided on our Platform is directed solely at and is for use solely by persons and entities that meet the criteria laid out in these terms and the terms applying to Borrowers. The content on the platform is not intended to be distributed to any person or entity in any jurisdiction where to do so would be illegal or contrary to any applicable regulation.

16.2 You are permitted to download and print content from this platform for your own personal use or in the course of your business to the extent required to use the services provided on this platform. Ablrate supplied content must not be copied or reproduced, modified, redistributed, used or otherwise dealt with for any other reason without our express written consent.

16.3 We are not responsible for content that are posted by lenders or Borrowers on the platform. We do not edit content on the site once posted.

16.4 We have gone to great lengths to ensure the Platform is available at all times; however, we disclaim any liability for losses incurred if you cannot access our system.

16.5 You agree to use the platform for lawful purposes and not to use the Platform for anything other than it intended purpose. You agree not to use the Platform that will negatively affect any other users experience on the Platform.

16.6 You agree not to use the Ablrate platform or any information accessible on or obtained from it for the purpose of canvassing or soliciting any person or enticing any person away from Ablrate.

16.7 You warrant that you have taken all reasonable precautions to ensure that any data you upload or otherwise submit to the platform is free from viruses and anything else which may have a contaminating or destructive effect on any part of the platform or any other technology.

16.8 Nothing on the Platform should be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other financial services or banking product. If you are unsure about whether a product is suitable you should contact an independent financial adviser.

16.9 You are responsible for all costs incurred by you in accessing the platform.

16.10 We accept no responsibility or liability for your use of our Platform and making loans on the Platform. The use of the Platform is entirely at your own risk and you warrant you are aware of the risk of using the Platform. We take reasonable steps to ensure the site remains virus free but cannot guarantee the existence of computer viruses. You must ensure all your virus protection programs are up to date.

16.11 Emails, content and services will be transmitted over public networks. We cannot guarantee that such communications will not be intercepted or delivered correctly.

16.12 The Platform may contain links to third party website, we are not responsible for content on these websites and disclaim any liability for your use of these third party websites or the information placed on those sites.

17. Privacy

You agree that all private information you supply to us maybe stored by us and used for internal data mining of our platforms users. You can read the full privacy policy on our site. (accessible online at http://www.ablrate.com/privacy).

18. Intellectual property rights

18.1 Subject to clause 18.3 below, as between you and us, we own all present and future copyright, registered and unregistered trademarks, design rights, unregistered designs, database rights and all other present and future intellectual property rights and rights in the nature of intellectual property rights existing in or in relation to the platform.

18.2 If and to the extent that any such intellectual property rights vest in you by operation of law or otherwise, you agree to do any and all such acts and execute any and all such documents as we may reasonably request in order to assign such intellectual property rights back to us.

18.3 You shall retain ownership of all copyright in data you upload or submit to the platform. You grant us a world-wide exclusive, royalty-free, non-terminable license to use, copy, distribute, publish and transmit such data in any manner.

18.4 We do not warrant or represent that the content of the platform does not infringe the rights of any third party.

19. Your liability to us

You shall be liable to us for any loss or damage suffered by us as a result of breaching any of the terms of use of the site, or loan contract entered into by yourself, or fraudulent use of our Platform. You shall also be liable to us for liabilities described in these terms relating to expenses incurred when recovering unpaid debts of borrowers.

20. Our liability to you

20.1 We shall not be liable to you for any loss or damage which you may suffer as a result of being a member of Ablrate or using the services provided via the platform, except where such loss or damage arises from our breach of these terms and conditions or was caused by negligence, wilful default or fraud by us or our employees. We are not responsible for any breach of these terms and conditions arising from circumstances outside our reasonable control. Our total liability to you in connection with these terms and conditions, your membership of Ablrate and your use of the services provided via the platform shall not exceed the amount of money you have lent giving rise to the liability.

20.2 Nothing in these terms and conditions shall limit our liability for personal injury or death, fraud, nor for any other liability the exclusion or limitation of which is not permitted by applicable law or regulation.

21. About us

21.1 Aviation and Tech Capital Limited is a company incorporated in England and Wales, whose registered number is 07940046 and whose registered office is at C/O Montgomery Swann, Scotts Sufferance Wharf, 5 Mill Street, London SE1 2DE.

21.2 Ablrate is registered with the Information Commissioner (ZA033501).

21.3 Ablrate is authorised and regulated by the FCA (663280)

22. Contacting us

Should you have any questions about these terms and conditions, or wish to contact us for any reason whatsoever, please contact us on the Ablrate website http://www.ablrate.com)

23. Amendments to these terms and conditions

23.1 We expect to need to update or amend these terms and conditions from time to time to comply with law or to meet our changing business requirements. We may make such changes without your specific agreement where those updates are, in our reasonable opinion, of an immaterial and routine nature and may not always be able to give you advanced notice of such updates or amendments but we will always post them on the platform so you can view them when you next log in. By continuing to use the Platform or our services in allocating funds you have deposited, you agree to be bound by the terms of any updates and amendments implemented in accordance with this clause 23.

23.2 These terms and conditions were last updated on 9th September 2014.

24. Other important terms

24.1 If any of these terms and conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, the remainder shall continue in full force and effect.

24.2 All disclaimers, indemnities and exclusions in these terms and conditions shall survive termination of the agreement between us for any reason.

24.3 We may, in whole or in part, release, compound, compromise, waive or postpone, in our absolute discretion, any liability owed to us or right granted to us in these terms and conditions without in any way prejudicing or affecting our rights in respect of that or any other liability or right not so released, compounded, compromised, waived or postponed.

24.4 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.

24.5 These terms and conditions and the Loan Contracts set out the entire agreement between you and us with respect to your use of the platform and the services provided via the platform supersede any and all representations, communications and prior agreements (written or oral) made by you or us.

24.6 Ablrate may exercise any of its rights under these terms and conditions by itself or through any company or other legal entity which is under the control or ownership of Ablrate (including without limitation to the leasing agents).

24.7 These terms and conditions are governed by English law. In the event of any matter or dispute arising out of or in connection with these terms and condition, you and we shall submit to the non-exclusive jurisdiction of the English courts.