NOTE: You acknowledge that we have not publicly announced the availability of Serai and we have not promised or guaranteed to you that Serai will be announced or made available to you or to anyone in the future. In the event that we launch Serai or any similar products, we are not obliged to inform you of such launch.
We know that legal terms can sometimes be difficult to navigate, so we wanted to give you a roadmap of our Terms:
Here you confirm that by using Serai, you agree to these Terms.
This section is about your Serai account, how it is maintained and how it can be used to communicate with us.
We want to provide a platform that is respectful of others’ IP rights and you may not use Serai in a way that is in breach of these Terms. To protect all users of Serai, we may remove any content that breaches these Terms. We also do not allow Sanctioned Entities to access Serai.
Although we try ensuring the accuracy of information on Serai, any use is at your own risk.
We may occasionally interrupt your service for server maintenance or suspend your use if we suspect any misuse.
We have put a lot of effort into building Serai and all IP belongs to us.
Please need your help to protect Serai’s Confidential Information.
Measures have been taken to ensure that Serai is secure but you can help by using your own virus protection software.
We will not be liable for any losses you incur from your use of Serai.
We rely on certain Third Party Content which may or may not be reliable.
This section is about how to terminate these Terms and the consequences of termination.
If any part of these Terms becomes unenforceable or illegal, this will not affect the enforceability or legality of the remaining part of these Terms.
With Users across the globe, we have decided to use Hong Kong law to govern our relationship with Serai Users and to resolve disputes (if any) through arbitration.
1.1 Serai is provided to you (“you” or “User”) and operated by Serai Limited whose business address is at Level 23, One Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong (“Company” or “we” or “us” or “our”).
1.2 By using Serai, you confirm that you accept the Terms and that you agree to comply with them. If you do not agree to the Terms, you must not use Serai. These Terms supersede all other terms and conditions, oral or written, suggesting additional or different terms between you and Serai. Please note that by using Serai, you do not become an employee, an agent or a partner of the Company.
1.3 We may update and change Serai from time to time to reflect changes to our services, our Users' needs and our business priorities. We reserve the right to modify the Terms at any time without notice. By continuing to use Serai after the changes come into effect means that you agree to be bound by the revised Terms. You should visit our website periodically to review the Terms.
2. Users' Account and Authority
2.1 In order to provide you with our services, Users are required to set up a Serai account, through which you will be able to send us instructions and requests. Such requests and instructions may include:
(a) the addition or removal of a guarantor;
(b) resetting any passwords;
(c) applying for and/or disbursing a loan;
(d) submitting a drawdown notice; or
(e) changing direct debit authorisation details.
2.2 We are not obliged to act on any instruction or request, whether verbal or in writing, which is not transmitted through Serai.
2.3 We will receive, from time to time, requests or instructions which originate from your account and we are entitled to act upon such requests and instructions without any inquiry as to its authenticity or verifying the identity or authority of the person or persons given such requests and instructions. You will remain responsible for and bound by all instructions and requests, whether authorised, unauthorised, inaccurate, mistaken or fraudulent, originating from your account and you agree to indemnify us against any claims or demands arising therefrom.
2.4 It is your sole responsibility to set-up, maintain and regularly review the security arrangements concerning access to, use of and information stored on your account. You should take appropriate measures to ensure that your account name, password, security device and digital certificates (collectively, “Identifiers”) are kept safe and confidential at all times and you should take steps to prevent any unauthorised use thereof.
2.5 You are also responsible for ensuring that all persons who are authorised to access your account are aware of the Terms and that they comply with them. In the event any unauthorised access results in an unauthorised transfer being transacted, we are not obliged to assist you in the suspending or reversing of such transfer or in the recovery or the clawing back of such funds.
2.6 You should notify us via our designated contact channels as we may specify from time to time if you become aware of or suspect any of the following:
(a) any loss, theft, disclosure, compromise or unauthorised use of any of your Identifiers; or
(b) any unauthorised use of services on Serai, or any unauthorised transactions having been conducted over your account.
3. Restrictions of Use
3.1 You agree not to:
(a) use Serai in any way that breaches any applicable law or regulation;
(b) use Serai in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect
(c) use Serai in any way which might result in any loss of your or any third party's property or information;
(d) use automated scripts to collect information from, or otherwise interact with Serai;
(e) create a false identity on Serai, misrepresent your identity or create a profile for any company other than yourself;
(f) use any data mining, robots, scraping or similar data gathering or extraction tools on Serai;
(g) manually collect, gather or extract information from Serai other than for the purposes of using and accessing services and features of Serai;
(h) misuse Serai by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful;
(i) tamper with Serai, or translate, modify, decompile, reverse engineer, decrypt, disassemble or in any way attempt to derive the source code (all of which belong to the Company) of, or try to create any derivative works of Serai.
(j) lease, earn money from, sub-license, assign, transfer of distribute Serai or any of our Intellectual Property (see clause 6) unless we permit you to do so.
(k) attempt to gain unauthorised access, interfere with, damage or disrupt:
(i) any part of Serai;
(ii) any equipment or network on which Serai is stored;
(iii) any software used in the provision of Serai; or
(iv) any equipment or network or software owned or used by any third party; and
(l) transmit or post to Serai any unlawful, threatening, defamatory, obscene, pornographic or profane material or any material that could constitute or encourage conduct that would amount to a criminal offence or give rise to civil liability or otherwise violate any law.
3.2 We can remove content that you post on Serai which is in breach of the Terms
3.3 We respect the intellectual property rights of others and desire to offer a platform which contains no content that violates those rights. You may give us notice if you believe that someone on Serai is infringing your intellectual property or posting content or conducting themselves in a way that is in breach of the Term by sending us an email at email@example.com.
3.4 Our products and services are not available to Sanctioned Persons. By using Serai and agreeing to our Terms, you represent and warrant that none of you, your shareholders, directors and ultimate beneficial owners is a Sanctioned Person.
3.5 Our products and services are easily accessible from anywhere you travel throughout the world, except when you are travelling in Sanctioned Territories. You can resume your use of our products and services when you are outside the Sanctioned Territories.
3.6 Users in or ordinarily resident in a Sanctioned Territory are prohibited from using IP proxies, VPNs, or other methods to disguise your location when accessing Serai. Additionally, Users may not use Serai for or on behalf of any Sanctioned Person.
For the purposes of these Terms:
“Sanctioned Person” means any person or organisation designated on the United Nations Consolidated Lists, the Consolidated List of Financial Sanctions Targets maintained by the UK HM Treasury, the Office of Foreign Assets Control list of Specially Designated Nationals and Blocked Persons, the US Government’s Denied Persons List, Entities List, Debarred Parties List and Terrorism Exclusion List or on any list of targeted persons issued under the Economic Sanctions Law of any other country or region; that is, or is part of, a government of a Sanctioned Territory; owned or controlled, directly or indirectly, by, or acting on behalf of, any of the foregoing; or incorporated within located within or operating from a Sanctioned Territory and subject to any Economic Sanctions Law; or otherwise targeted under any Economic Sanctions Law.
“Economic Sanctions Law” means any laws, regulations, or other binding measures of the European Union, any EU member state, the United Nations, the United States of America, Hong Kong or any other jurisdiction applicable to you or us which relates to economic or trade sanctions, export controls, non-proliferation, anti-terrorism or similar restrictions.
“Sanctioned Territory” means any country or other territory subject to a general export, import, financial or investment embargo under Economic Sanctions Law from time to time.
4. Information Available on Serai
4.1 You may only use the information and other materials contained on Serai to build your business network and use our products and features on Serai but not for any other personal or commercial purposes.
4.2 The content on Serai is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on Serai.
4.3 Although we make reasonable efforts to update the information on Serai, we make no representations, warranties or guarantees, whether express or implied, that the content on Serai is accurate, complete or up to date.
4.4 Any information on Serai is provided on an “as is” basis. It is your responsibility to satisfy yourself that Serai is suitable and fit for your purposes before using our services.
5. Service Interruption
5.1 We do not guarantee that Serai, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of Serai for business and operational reasons. For example, this may occur when there is a suspected breach of security or when we perform any required maintenance or implement any service upgrades.
5.2 We may also suspend or revoke your right to use all or any part of Serai due to your breach of the Terms or any misuse (or suspicion of misuse) of Serai.
5.3 We will try to give you reasonable notice of any suspension or withdrawal of Serai where practicable, but we will not be liable to you for any disruptions caused by any suspension or interruption to Serai if we were unable to provide you with reasonable notice.
6. Intellectual Property
6.1 The graphics, designs, source codes, service names, copyrights, database and compilation rights, rights in Confidential Information (including know-how and trade secrets) and other materials on Serai are our intellectual properties (“Intellectual Property”) or have been lawfully licensed to us. We retain ownership of Serai and all Intellectual Property subsisting on them.
6.2 Users may provide feedback to us on the features and functionality of Serai. Once you provide your feedback to us, the feedback will belong to us exclusively. Any interest or intellectual property rights which may or may not have been generated from your feedback will be assigned to us and we are entitled to use your feedback and incorporate it onto Serai without your permission or compensating you.
6.3 You may only use our Intellectual Property to an extent that is necessary for the purposes of accessing or using Serai or services thereon and not for any other personal or commercial use.
6.4 Nothing on Serai should be construed as granting any licence or right to use our Intellectual Property without our express prior permission.
7. Confidential Information
7.1 The following information will be considered and referred to in the Terms as “Confidential Information”:
(a) any information contained within the password-protected zone of Serai (including its product features, functionality, User business network and connections, digital customer journey, credit assessment methodology and process, credit grant methodology and process, source code, object code, user experience and interface designs); and
(b) any other information disclosed by us to you in connection with Serai.
7.2 Information that otherwise would be deemed Confidential Information will not be considered Confidential Information under the Terms if:
(a) it is generally and legitimately available to the public through no fault or breach of yours;
(b) it is generally made available to the public by us;
(c) it is independently developed by you without the use of any Confidential Information;
(d) it was rightfully obtained from a third party who had the right to transfer or disclose it to you; or
(e) it is any third party software and/or documentation provided to you by us and accompanied by licensing terms that do not impose confidentiality obligations on the use or disclosure of such software and/or documentation.
7.3 All Confidential Information remains our sole property and you have no implied licenses or other rights in the Confidential Information not specified in the Terms.
7.4 Unless expressly permitted in this clause or with our written consent, you agree that you will not share any Confidential Information in any format to anyone.
7.5 You acknowledge and agree that the Confidential Information is provided to you only in your capacity as a user and solely for the purposes of accessing and using Serai. If you disclose the Confidential Information to anyone (unless with our express permission), you may cause irreparable harm to our reputation, financial benefit and the development progress of Serai. It may be difficult to impose a dollar sum figure to the harm and injury caused by your actions. Therefore, we have the right to go to court to seek an injunction stopping you from disclosing any information or demanding that you comply with the terms of the Terms or to enforce any other legal remedies we may have to protect Serai and our rights.
8. Data Protection and Transfers
8.2 You are required to provide certain information and/or upload certain documents when you register for a Serai account and use our services and products.
8.3 We may transfer or disclose the information that you share with or upload to Serai to:
(a) employees of Serai;
(b) other users of Serai;
(c) any agents, contractors, and service providers which provide services to us in relation to the operation of our business (including without limitation administrative, telecommunications, computer, payment, processing or investigation services);
(d) any persons under a duty of confidentiality to us who requires the personal data in the course of their duties (including auditors and advisors); and
(e) persons to whom we are required to make disclosure under applicable laws and regulations in or outside of Hong Kong (which may include the government, regulatory authorities or law enforcement bodies) or if a regulatory authority or law enforcement body so requires.
8.4 All of the transfers referred to in clause 8.3 may occur within or outside Hong Kong.
9. Security of Serai
9.1 We do not guarantee that Serai will be secure or free from bugs or viruses. The use of Serai is entirely at your own risk.
9.2 You are responsible for configuring your information technology, computer programmes and platform to access Serai. You should use your own virus protection software.
9.3 The transmission of information via Internet or mobile network is not completely secure. The security measures described above do not preclude us from the possibility of fraud, cyber-attacks, such as hacking, spyware and viruses, and we do not warrant that our servers or network will be immune from such attacks. Although we will implement security measures to protect your data, we cannot guarantee the security of the data transmitted to Serai via Internet or mobile network. We are not liable for any loss or damage arising from risks relating to any transmission.
10. Limitation of Liability
Any risks, costs and losses associated with installing or using of Serai, or any costs or damage incurred from your use of Serai will be wholly assumed by you. To the fullest extent allowed by law, we will not be liable for any direct or indirect expenses (such as losing out on an opportunity or a chance to make a profit, losing out on a contract) and any of its resulting losses from your use of Serai or any of the Confidential Information we have provided to you whether arising from this Terms or by negligence, regardless of whether we knew that you would have incurred any loss from our actions. In any event, our total liability (unless involving personal injury) towards you is capped at HK$1,000.
11. Third Party Content
Serai may contain links to other websites and may on occasion display content or information from other websites or sources (“Third Party Content”). We are not responsible or liable for any Third Party Content displayed on Serai and we do not warrant that such Third Party Content will be accurate, current or suitable for any purpose.
12.1 The Terms are valid and effective until terminated in accordance with this clause.
12.2 We may terminate the operation of Serai, or your right to use Serai, at any time for any reason without providing you with notice and without being liable to you.
12.3 You may also terminate the Terms at any time for any reason.
12.4 In the event of termination by either party:
(a) you must cease all use of Serai;
(b) you must delete Serai from your mobile device(s) and computer(s). If you are unable to delete Serai from your mobile device(s) and computer(s), then you agree that you will continue to hold all information from and on Serai as Confidential Information; and
(c) you must return or destroy all Confidential Information that is in your possession or control, except for any documentation and information which you may retain for corporate governance, audit and internal records.
12.5 For the avoidance of doubt, clauses 7 (Confidential Information), 8 (Data Protection), 10 (Limitation of Liability) and this clause 12 (Termination) will continue to bind a User and us following termination of the Terms.
If any part of the Terms is or becomes invalid, illegal or unenforceable, you agree that the Terms are automatically amended to the minimum extent necessary to make it valid, legal and enforceable. If such minimal revision is not possible, the invalid, illegal or unenforceable parts will be deemed as deleted. In any event, a modification or amendment to the Terms under this clause will not affect the validity or the enforceability of the Terms.
14. Governing Law and Jurisdiction
14.1 The Terms and any dispute or claim arising out of or in connection with the Terms (including the formation of this contract or any non-contractual claims) are interpreted according to Hong Kong law. The information on Serai and the Terms have been prepared in accordance with Hong Kong law and are expressly for use by Hong Kong-based users.
14.2 Any dispute, controversy, difference or claim arising out of or relating to the Terms, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration pursuant to the HKIAC Domestic Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be Hong Kong law. The seat of arbitration shall be Hong Kong. The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English. Notwithstanding the foregoing, nothing in the Terms prevents the Company from seeking urgent injunctive or similar relief from any court of competent jurisdiction if needed to enforce its rights under the Terms, and to this end each of the parties irrevocably agrees that courts of Hong Kong have non-exclusive jurisdiction to settle any such dispute or claim.
Last updated: 28 August 2019