Small updates to our terms & conditions

We’re making some small changes to our investor T&Cs this week, mainly to clarify how the marketplace works and to comply with regulation. Please see below for details:

Investor terms & conditions

  • Changes to clauses 1.10 to 1.14 to clarify that money must be paid in from, and withdrawn to, a bank account in the name of the Funding Circle account holder.
  • A change to clause 5.1 to clarify that we can make changes to loan conditions in respect of future loans, as long as we notify investors of such changes and they do not adversely affect investors.
  • Changes to clauses 10 and 12 to clarify that any debt collection activity is carried out by Funding Circle Limited.
  • Amendments to clauses 13.2(a) and (e) to make clear that we can, in the interests of all investors, terminate membership of Funding Circle if our marketplace is not being used for the purposes for which it is intended.
  • Some small changes to clause 25 (clauses 25.3 and 25.4) to clarify how we hold client money and how statements are provided.

If you have any questions about these updates please get in touch and we’ll be more than happy to help.

Enjoy lending,

The Funding Circle team

 

Jack Pritchett

Senior Communications Manager