User’s ID number is used as the primary identification for the purpose of Loan Agreements made through the Platform.
The legal entity shall provide all documents requested by CoinLoan via email.
The given list may be amended by the operator of the CoinLoan platform at any time, by making the relevant changes to these Terms and Conditions.
Should CoinLoan remove any of the cryptoassets from the list of available collaterals, the loans already secured by such cryptoassets shall remain in force.
CoinLoan is entitled to make changes to the given list of fiat currencies and stablecoins at any time in the future. The loans already active shall remain active despite any changes made to this list after the loan was already granted.
CoinLoan cryptoassets account is a universal account the CoinLoan uses to store the cryptoassets of the Users for the purpose of a collateral under a relevant Loan Agreement.
Any User may add cryptoasset funds by transferring them to the relevant CoinLoan cryptoassets account for the purpose of securing the loan.
The User may withdraw funds from the platform by the available payment means.
Any User acting as a Borrower is obligated to personally review the cryptocurrency exchange rates to maintain the collateral at the sufficient LTV and act accordingly should the collateral value drop below the required level.
Should the collateral value drop below the limit set by CoinLoan, the platform may (but is not obligated to) notify the Borrower, who will be obligated to remedy the situation in accordance with the signed Loan Agreement.
Should the Borrower fail to remedy the situation, CoinLoan is entitled to convert the collateral to fiat currency of the loan agreement, repaying the Loan amount and interest to the Lender, retaining its own conversion commission in the amount of 7% and returning the remaining funds, if any, to the Borrower.