Last Updated: August 14/2020
IMPORTANT NOTICE REGARDING ARBITRATION: WHEN YOU AGREE TO THESE TERMS YOU ARE AGREEING (WITH LIMITED EXCEPTION) TO RESOLVE ANY DISPUTE BETWEEN YOU AND DRIVERLOAN INVESTORS CLUB THROUGH BINDING, INDIVIDUAL ARBITRATION RATHER THAN IN COURT. PLEASE REVIEW CAREFULLY THE ARBITRATION PROVISION BELOW FOR DETAILS REGARDING ARBITRATION (INCLUDING WITHOUT LIMITATION THE PROCEDURE TO OPT OUT OF ARBITRATION).
1. THE SERVICES
1.1. General Information
The rate set by DRIVERLOAN INVESTORS CLUB as of the date of this Terms is 15% per annum. We reserve the right to modify the rates for new or future investors but never to current investors, at any time, based on macroeconomic changes to the Fed Funds Effective rate. Once an investment is initiated the APY% offered will not change at any point.
We reserve the right to modify the terms of the Rate Tiers, at any time.
At the end of each day the rate for your DRIVERLOAN INVESTORS CLUB Account, as reflected in our records, will be used to determine your daily earnings payout. DRIVERLOAN INVESTORS CLUB will take the stated rate for your DRIVERLOAN INVESTORS CLUB Account at the end of the day and determine the daily earnings payout for a particular day assuming compounding over 365 days and the beginning balance for that day. Fractions of a penny will be rounded down and those fractions of a penny will be carried forward to the next day for purposes of determining the next day’s payout. DRIVERLOAN INVESTORS CLUB will credit both the interest and the Daily Rate Rewards you earn each day to your DRIVERLOAN INVESTORS CLUB Account by the end of the next calendar day, and all principal and interest on your balances will be available for withdrawal pursuant to the available-for-withdrawal balance as disclosed in the platform.
1.2. DRIVERLOAN INVESTORS CLUB Account
Obtaining Balance Information. You may obtain information about the balance of funds in your DRIVERLOAN INVESTORS CLUB Account at any time by logging into the platform.
Maximum Deposit. We may limit the amount you may deposit to your DRIVERLOAN INVESTORS CLUB Account. Any such limitations will be disclosed on the platform. The DRIVERLOAN INVESTORS CLUB Account has a maximum starting deposit limit of $25,000 per account, which may be increased in the future. The DRIVERLOAN INVESTORS CLUB Account has an automatic daily deposit limit of $500. There are no limits on withdrawals.
Fees. We do not charge any fees for the DriverLoan Investors Club account.
2. TERMS OF SERVICES
To use the Services, you must be at least 18 years of age and be a U.S. citizen (or a legal U.S. resident).
2.2. Verification of Your Identity
For our compliance purposes and to provide you the Services, you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation to verify your identity and bank account information. When you register for the Services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as, a copy of your government-issued photo ID, such as a passport or driver's license.
2.3. Transferring Funds
To Your DRIVERLOAN INVESTORS CLUB Account. You may transfer funds from your External Account to your DRIVERLOAN INVESTORS CLUB Account via Debit Card using the Services. Only funds from your Debit Card may be transferred to your DRIVERLOAN INVESTORS CLUB Account. We are not responsible for any third-party fees that you may incur as a result of using the Services, including, but not limited to, third-party fees incurred as a result of maintaining insufficient funds in your External Account.
From Your DRIVERLOAN INVESTORS CLUB Account. You may transfer any or all of your funds from your DRIVERLOAN INVESTORS CLUB Account to your External Account using the Services. We will generally complete the requested transfer from your DRIVERLOAN INVESTORS CLUB Account to your External Account typically within 3 business days from our receipt of your request. It may take longer if, for example, you recently made a deposit or if you are withdrawing to a different External Account than the one used for your initial deposit. You authorize us to transfer funds from your DRIVERLOAN INVESTORS CLUB Account to your External Account without notice to you upon the closure of your DRIVERLOAN INVESTORS CLUB Account as described below and at any time if required by applicable law or if we, in our sole discretion, suspect the Services are being used for unlawful purposes or otherwise in violation of these Terms.
2.4. Termination of these Terms
You may stop using the Services, close your DRIVERLOAN INVESTORS CLUB Account, and cancel these Terms at any time by contacting us at [email protected] and providing sufficient information for us to verify your identity. If there are any pending transactions relating to your DRIVERLOAN INVESTORS CLUB Account when we receive your termination notice, we will close your DRIVERLOAN INVESTORS CLUB Account promptly after such transactions are completed. Your termination of these Terms will not affect any of our rights or your obligations arising under these Terms prior to termination. Upon the closure of your DRIVERLOAN INVESTORS CLUB Account, we will transfer the funds in your DRIVERLOAN INVESTORS CLUB Account, if any, to your External Account. If your External Account is closed or we are otherwise unable to transfer the funds in your DRIVERLOAN INVESTORS CLUB Account to your External Account, we will send you a check for the amount of the funds to you at your street address in our records.
We reserve the right, in our sole discretion and without advance notice to you, to terminate, cancel, or suspend access to your use of the Services or your DRIVERLOAN INVESTORS CLUB Account for any reason, including, but not limited to: (a) your breach of these Terms; (b) if you have provided information to DRIVERLOAN INVESTORS CLUB that is untrue, inaccurate, not current or incomplete or DRIVERLOAN INVESTORS CLUB has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete; or (c) if we suspect unauthorized, fraudulent or illegal activity in your DRIVERLOAN INVESTORS CLUB Account, we may freeze your DRIVERLOAN INVESTORS CLUB Account pending further investigation. We are not responsible for damages suffered by you or any inconvenience caused directly or indirectly by our termination, suspension, or restriction of your access to the Platform or Services.
2.5. Warranty Disclaimer
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THESE TERMS, YOU AGREE THAT YOUR USE OF THE SERVICES AND ALL CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE PLATFORM IS AT YOUR SOLE RISK. THE SERVICES AND PLATFORM ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE AND OUR THIRD-PARTY SERVICE PROVIDERS EXPRESSLY DISCLAIM ANY AND ALL CONDITIONS, REPRESENTATIONS, AND WARRANTIES OF ANY KIND AS TO THE CONTENT OR OPERATION OF THE PLATFORM OR SERVICES AND CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE PLATFORM, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
WITHOUT LIMITING THE FOREGOING, WE AND OUR THIRD-PARTY SERVICE PROVIDERS MAKE NO WARRANTY THAT: (A) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE; (B) THE INFORMATION OBTAINED ON THE PLATFORM WILL BE ACCURATE OR RELIABLE; (C) THE QUALITY OF SERVICES OR INFORMATION OBTAINED BY YOU THROUGH THE PLATFORM WILL MEET YOUR EXPECTATIONS OR REQUIREMENTS; (D) THAT ANY CONTENT AVAILABLE THROUGH THE PLATFORM IS FREE OF INFECTION FROM ANY VIRUSES OR OTHER CODE OR COMPUTER PROGRAMMING ROUTINES THAT CONTAIN CONTAMINATING OR DESTRUCTIVE PROPERTIES, OR; (E) ANY ERRORS IN THE SERVICES WILL BE CORRECTED.
NO ORAL OR WRITTEN INFORMATION OBTAINED BY YOU FROM US OR OUR THIRD-PARTY SERVICE PROVIDERS THROUGH OR FROM THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.
2.6. Limitation of Liability
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE THAT DRIVERLOAN INVESTORS CLUB, ITS AFFILIATES, AND ITS AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, AND THIRD-PARTY SERVICE PROVIDERS WILL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR: (A) THE PERFORMANCE OF THE SERVICES OR THE INABILITY TO USE THE SERVICES; (B) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, WHETHER BASED IN CONTRACT, TORT, OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, OR OTHER INTANGIBLE LOSSES, EVEN IF SUCH PERSONS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHICH ARISE OUT OF OR ARE IN ANY WAY CONNECTED WITH THESE TERMS OR THE SERVICES; (C) ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF $200 OR THE AMOUNT TRANSFERRED FROM YOUR EXTERNAL ACCOUNT TO YOUR DRIVERLOAN INVESTORS CLUB ACCOUNT VIA THE SERVICES; OR (D) ANY EVENT BEYOND OUR REASONABLE CONTROL.
SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU. ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE SERVICES IS DONE AT YOUR OWN DISCRETION AND RISK, AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL.
You agree to indemnify, defend and hold us and any of our affiliates, licensors, and agents, and all of their officers, directors, employees, agents, information providers, and licensors harmless from and against any and all third-party claims, damages, liability and costs (including attorneys’ fees and costs) incurred by any of these parties that arise out of or are caused by your access and use of the Services, your violation of these Terms, your infringement of any intellectual property rights, or violation by any user of your DRIVERLOAN INVESTORS CLUB Account. In the event that there are third party claims against you for which you properly seek damages from us under these Terms, or we are subject to any claim for which we have the right to be indemnified by you, we reserve the right at your expense in the case of claims for which we have the right to be indemnified by you to assume the exclusive defense and control of any such claim, and you agree that in any event no such claim can be settled without our written consent.
2.9. Security and Restrictions.
You may not use the Services in any manner that may impair, overburden, damage, disable or otherwise compromise (i) the Services; (ii) any other party’s use and enjoyment of the Services; or (iii) the services and products of any third parties including, without limitation, any device through which you access the platform.,
2.10. Security of your Access Information.
You agree not to authorize any other person or entity to use your username and password or mobile device to access the Services. You are solely responsible for the maintenance, confidentiality, and security of your username and password. Except as otherwise required by applicable law, you are responsible for all transactions and other activities authorized or performed using your username and password or mobile device, whether authorized or unauthorized by you. Except as otherwise expressly stated in these Terms or required by applicable law, we are not responsible for any losses arising out of the loss or theft of your User Information, access credentials, or your mobile device or from unauthorized or fraudulent transactions associated with your External Account or your DRIVERLOAN INVESTORS CLUB Account. Your passwords and confidential data should be not shared by email.
If your mobile device is lost or stolen or if you suspect someone has gained unauthorized access to your username or password or mobile device, you must contact us immediately at [email protected] In order to take any action, you will need to provide us information to verify your identity.
2.15. Intellectual Property.
DRIVERLOAN INVESTORS CLUB retains full, irrevocable, royalty-free, worldwide, sub-licensable, and perpetual intellectual property rights around any user generated content uploaded, shared, transmitted, or otherwise disseminated on the Platform or through other communications channels. DRIVERLOAN INVESTORS CLUB can store, use, reproduce, modify, and adapt such content and will retain full rights to any derivative works or compilations of such content; users warrant by their actions that they have the necessary rights to grant such licenses to DRIVERLOAN INVESTORS CLUB. DRIVERLOAN INVESTORS CLUB can further delete such content at any time and for any reason. DRIVERLOAN INVESTORS CLUB is the owner and/or authorized user of all text, images, data representations, animation, music, sounds, and any and all other materials on the Platform. You may not copy, reproduced, republish, disseminate, exploit, distribute, or otherwise incorporate any material found on the Platform or in DRIVERLOAN INVESTORS CLUB’S communications. Such materials are protected by U.S. and international copyright and treaty provisions without limitation as copyrights, trademarks, service marks, logos, and other intellectual property.
2.12. USA PATRIOT Act Notice.
Important information about procedures for using our services under the USA PATRIOT Act of 2001: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you use our services, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a form of identification with your photograph or other identifying documents.
3. GENERAL TERMS
3.1. Assignment. You may not assign these Terms, your rights or obligations under these Terms, or your DRIVERLOAN INVESTORS CLUB Account without prior written consent of DRIVERLOAN INVESTORS CLUB, and any prohibited assignment will be null and void. DRIVERLOAN INVESTORS CLUB may assign these Terms or any rights hereunder without your consent.
3.2. Governing Law. These Terms will be governed exclusively by and construed, interpreted and enforced in accordance with the Federal Arbitration Act, federal arbitration law, and the laws of the State of California, excluding its provisions on conflicts or choice of laws.
3.3. Arbitration. Any dispute, controversy, demand, claim, or cause of action arising out of or relating to the access and use of the Services or any services related to it or these Terms, including the determination of the scope or applicability of these Terms to arbitrate (a “Dispute”), shall be resolved solely by binding, individual arbitration rather than a class, representative or consolidated action or proceeding. You and DRIVERLOAN INVESTORS CLUB each further agree this arbitration provision will be governed by, and interpreted, construed, and enforced in accordance with, the Federal Arbitration Act and other applicable federal law, and that you are waiving the right to a trial by jury or to participate in a class action. This arbitration provision shall survive termination of these Terms and/or the termination of your access to the Services. As used in this arbitration provision, “we” and “us” mean DRIVERLOAN INVESTORS CLUB and its subsidiaries, affiliates, predecessors, successors, and assigns and all of its and their respective employees, officers, directors, agents, and representatives. In addition, “we” and “us” include any third party providing any product, service, or benefit in connection with the Services or these Terms if such third party is named as a co-party with us in any Dispute subject to this arbitration provision.
Exceptions and Opt-Out. As a limited exception to mandatory arbitration as set forth in this Section 3.3 of these Terms, you or DRIVERLOAN INVESTORS CLUB may seek to resolve a Dispute in small claims court if it qualifies. If you wish to opt-out of this arbitration provision, you must provide us written notice within 30 days of the date that you first became subject to these Terms or within 30 days of the effective date of any material change to these Terms, by certified mail at the following address: DRIVERLOAN USA 8350 NW 52th Tr, Suite 301, Doral, FL 33166, Attn: Arbitration Opt-Out. Your opt-out notice must include your name, address, phone number, and email address.
How Arbitration Works. The arbitration will be conducted by the American Arbitration Association (“AAA”) pursuant to its Consumer Arbitration Rules (“AAA Rules”), as modified by these Terms. The AAA Rules are available at www.adr.org, or by calling (800) 778-7879. If the AAA is unavailable or unwilling to hear the dispute, the parties will agree to, or the court will select, another arbitration provider. Any arbitration hearings will take place in San Francisco County, California unless the parties both agree in writing to a different location. We encourage you to contact us in advance of filing a claim for arbitration to see if the dispute can be resolved prior to arbitration.
Arbitration Costs. Payment of all filing, administration, and arbitrator fees will be governed by the AAA Rules. If you prevail in arbitration you will be entitled to an award of attorneys’ fees and expenses to the extent provided under applicable law.
Class Action Waiver and Representative Claims. YOU AND DRIVERLOAN INVESTORS CLUB AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR OUR INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. Further, if our dispute is resolved through arbitration, the arbitrator may not consolidate another person’s claims with your claims and may not otherwise preside over any form of a representative or class proceeding. Except as set forth in this arbitration provision, if any portion of this arbitration provision is deemed invalid or unenforceable, it will not invalidate the remaining portions of the arbitration provision. This arbitration provision will survive termination of your DRIVERLOAN INVESTORS CLUB Account and these Terms.
3.4. Third-Party Links. The Platform may provide links or references to other sites originating from other companies, individuals or organizations. However, the materials that can be accessed from such sites are not maintained by us and we are not responsible for the contents thereof and we shall not be liable for any damages or injury arising from that content. Any reference to a linked site or any specific third-party product or service by name does not constitute or imply its endorsement by us, and you assume all risk with respect to its use.
3.5. Changes to these Terms or the Services. These Terms may be revised at any time for any reason, and we may provide you notice of these changes by any reasonable means, including by providing notice through the Platform. You can determine when we last updated these Terms by referring to the “Last Updated” legend at the top of these Terms. By continuing to access or use the Platform, you confirm your acceptance of the revised Terms and all the terms incorporated herein by reference. We strongly recommend that you periodically visit this page of the Platform to review these Terms. If you do not agree to the revised Terms, you may not access or use the Services.
3.6. Compliance with Laws. You agree to use the Services for lawful purposes only and to comply with all applicable laws and regulations, including U.S. export and re-export control laws and regulations. The material provided on the Platform is protected by law, including, but not limited to, United States Copyright Law and international treaties.
3.8. Third-Party Beneficiaries. Our third-party services providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.
3.9. Taxes. You will be responsible for paying, withholding, filing, and reporting all taxes and other governmental assessments associated with your activity in connection with the DRIVERLOAN INVESTORS CLUB Account and the Services.
3.10. Contacting Us. If you have any questions, comments, or concerns regarding these Terms or the Services, please contact us at [email protected]