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1. This Digital Niaga Program Terms of Application governs your application for financing facilities under the Digital Niaga Program.
2. In this Digital Niaga Program Terms of Application, “Borong-MY”, “we”, “us” or “our” shall mean Macro Tech Ventures Sdn Bhd (Registration No. 201601019690 (1190627-U)) and “you" or "your" refer to you, as a User of the Platform and/or Services.
3. In this Digital Niaga Program Terms of Application, unless the context otherwise requires, capitalized terms used but not defined herein shall have the same meaning as defined in the Platform Terms and Conditions.
4. By making an application for financing facilities under the Digital Niaga Program, you hereby agree that you are bound by this Digital Niaga Program Terms of Application which you hereby acknowledge that you have read, understood and accepted, in addition to the Borong-MY General Terms (as defined under the Platform Terms and Conditions), all of which are incorporated herein by reference. You acknowledge that all these terms may be revised by Borong-MY from time to time and you understand and accept that you are automatically bound by any and all additions, modifications and/or amendments on its publication date.
5. If you do not agree to any of the terms herein, please do not proceed with any application under the Digital Niaga Program.
6. Through Digital Niaga Program, you have the opportunity to apply for credit financing with selected financiers in collaboration with Borong-MY under the Digital Niaga Program solely for the purpose of settlement of payments arising from activities transacted on Borong-MY Platform.
7. Under the Digital Niaga Program, Buyers may have the opportunity to apply for financing facilities which may be offered by the collaborating financiers in collaboration with Borong-MY.
8. Financing facilities extended by the financiers through Digital Niaga Program are exclusively for the purpose of settlement of payments arising from activities transacted on Borong platform.
9. Financing facilities extended by the financiers may include financing credit terms, typically thirty (30) days or sixty (60) days, offered solely at the discretion of the financiers.
10. Buyers shall, upon the creation of an application under Digital Niaga Program, be subject to the terms and conditions stipulated in Digital Niaga Terms of Application.
11. Buyers applying for Digital Niaga Program shall further be bound by such terms and conditions as may be imposed by the financiers offering the financing facilities to Buyers.
12. For the avoidance of doubt, Borong-MY merely serves as an intermediary platform between Buyers and the financiers, and Borong-MY shall not be held responsible nor liable to the financing products offered by the financiers in any manner whatsoever.
13. Borong is not authorized to make any representation and/or warranty on behalf of the financiers. The relationship between Borong and the financiers is independent, with neither party acting as an agent, contractor, or representative of the other.
14. You may submit your application through Borong-MY Platform. Your application will be assessed and reviewed by Borong-MY at our sole and absolute discretion before transmitting it to Borong-MY’s collaborating financier under the Digital Niaga Program.
15. Borong-MY reserves the right to accept or reject your application and to withhold the processing of and/or approval of your application.
16. In assessing and reviewing your application, considerations such as the nature of your business, your credit standing and the credit limit applied may be taken into account.
17. Your application may be approved or rejected or varied, all of which may occur with or without reasons, at the sole and absolute discretion of the financier.
18. By proceeding with the application, you acknowledge and agree that Borong-MY shall not in any manner be responsible or liable in the event your application is rejected with or without reasons, or for any reasons whatsoever. Borong-MY assumes no obligation if your application is not approved.
19. In the event that your application is successful, you will be notified by Borong-MY and/or Borong-MY’s collaborating financier in respect of the credit financing offer extended to you and should you find the terms agreeable, you have the option to accept the credit financing offer by executing the offer extended by the financier.
20. The type of facilities and terms and conditions of credit financing offer may vary subject to the discretion of the financier. Further, the financier may impose any terms and conditions under the credit financing offer extended to you at its sole and absolute discretion, including credit terms, interest rate, terms of repayment and other fees and charges.
21. We reserve the right to impose any fees and charges at any time.
22. All fees and charges paid to us are non-refundable under any circumstances whatsoever.
23. Under Digital Niaga Program, it is understood and agreed that any payment disbursed by the financier, shall only be utilized for payment of suppliers’ or sellers’ invoices in respect of your orders placed on Borong-MY Platform.
24. Payment disbursements will be made directly by the financier to Borong-MY, and after deducting all applicable charges and fees payable by the suppliers’ or sellers’ to Borong-MY, the remaining payment disbursements will be released to the respective suppliers or sellers.
25. You further authorise Borong-MY to deduct and/or debit from your credit facility all applicable subscription fees, platform fees, services charges, late payment interest and other money or fees due and payable to us without any reference to you, and you agree that Borong-MY shall not in any event be held liable for any claims, losses, damages, expenses, costs and charges pursuant to such deduction.
26. You acknowledge that not all products or items listed on Borong-MY Platform may meet the criteria for your credit financing approved under Digital Niaga Program, and settlement towards each and every invoice is subject to the approval of your financier upon such terms and conditions and guidelines which may be imposed by your financier.
27. In instances where invoices are rejected by your financier for any reason whatsoever or in the event that any invoices do not meet the criteria or approval of your financier, it is your responsibility to make payments for these invoices independently, without the assistance or support from your financier.
28. By proceeding with the application, you acknowledge and agree that Borong-MY assumes no responsibility or liability in any manner for any rejected invoices under your approved credit financing facility, and shall be absolved from any obligations or liabilities associated with such outcomes.
29. You hereby confirm that Borong-MY functions solely as an intermediary platform, orchestrating the connection between you and the financier, and the formation of a contractual agreement for the credit facility under Digital Niaga Program is directly established between you and the collaborating financier.
30. Borong-MY reserves the right, with or without assigning any reason, to change, modify, update, correct, add, interrupt, restrict, limit, suspend, terminate or discontinue all or any of our Services at any time, with or without notice.
31. Borong-MY further reserves the right to suspend and/or terminate your account under Borong-MY Platform pursuant to Borong-MY Platform Terms and Conditions.
32. You acknowledge and agree that Borong-MY shall not in any manner and for any reason whatsoever be responsible or liable to you for any losses or damages which may arise from the suspension or termination of Platform and/or Services.
33. Your sole and exclusive right and remedy in case of dissatisfaction with the Platform and/or Services, or any other grievances shall be your termination and discontinuation of access to, or use of the Platform and Services.
34. Borong-MY, acting as a platform, may sends up to three (3) notifications or reminders to you prior to the due date for repayment to your financier. In the event of any non-repayment to your financier at the expiry of seven (7) days from your payment due date to your financier, your transactions on Borong-MY Platform will be temporarily suspended and/or cancelled.
35. For the avoidance of doubt, it is expressly stated that Borong-MY do not partake in any aspect of the repayment or collection process between you and your financier. Borong-MY's role is strictly limited to facilitating the connection between you and your financier through Borong-MY Platform, and any matters related to repayment or collection are exclusively governed by the terms with your financier.
36. By making an application under the Digital Niaga Program, you hereby confirm that all information and documents submitted to Borong-MY are true and complete, and Borong-MY is authorised, but not obligated, to verify such information and documents from whatever sources and means it deemed fit and appropriate. It is your responsibility to provide accurate, complete and up-to-date information to us.
37. You hereby expressly acknowledge and agree that Borong-MY is authorised to collect, retain, use, process and disclose any of your information and documents, your affairs, banking accounts, credit standing and/or conducts to and from any person as we may consider necessary or deemed fit including without limitation to Central Credit Reference Information System (CCRIS), CTOS or any credit reference agency, any authorities, or as required by law, directives or guidelines, whether having the force of law or otherwise, or to any third party including the Seller, Buyer, financiers, service providers, or other participants or collaborators of the Platform.
38. You further consent to the processing and disclosure of personal data provided to us in accordance with Borong-MY Privacy Notice under the Personal Data Protection Act 2010.
39. You shall resolve all complaints and disputes in respect of the credit facility extended by your financier directly with the financier. By making an application under the Digital Niaga Program, you further undertake that you shall not in any manner involve and/or include Borong-MY in any such claims or legal proceedings.
40. It is expressly agreed that Borong-MY shall not be liable or responsible for any losses, damages, costs and/or expenses whatsoever suffered by you arising out of or in connection with the credit facilities extended by Borong-MY’s collaborating financier.
41. Without prejudice to the generality of the foregoing and to the maximum extent permitted by applicable laws, you agree that the aggregate liability of Borong-MY (including our related companies, our shareholders, directors, employees, officers, representatives and agents) to you for any claim arising from the use of Platform and Services is limited to the maximum sum of Ringgit Malaysia One Thousand (RM1,000) only.
42. In no event shall Borong-MY be liable for any (i) indirect, special, incidental, punitive, exemplary, reliance, or consequential damages, (ii) loss of profits, (iii) business interruption, (iv) reputational harm, (v) loss of information or data, and (vi) any other theory of liability, out of or arising from or in connection with the use of, or inability to use the Platform, whether or not Borong-MY has been advised of the possibility of such damages.
43. You agree to defend, indemnify, and hold harmless Borong-MY (including our related companies, our shareholders, directors, employees, officers, representatives, and agents) from all losses, damages, costs, expenses, claims, demands, actions, suits, proceedings and liabilities that arise from your use of the Platform and/or Services. Borong-MY reserves the right, at its own expense, to assume exclusive defence and control of any matter otherwise subject to indemnification by you, in which event you hereby agree that you will cooperate with Borong-MY in asserting any available defences.
44. The terms and conditions as set out herein and any dispute or matter arising from or incidental to the use of the Platform and Services shall be governed by and construed in accordance with the laws of Malaysia. The Users and Borong-MY hereby agree to submit to the exclusive jurisdiction of the courts of Malaysia.
45. Binding: Notwithstanding the absence of signature as proof of acknowledgment and agreement, you expressly agree that this Digital Niaga Program Terms of Application, Borong-MY General Terms and Specific Terms shall constitute a legal and binding agreement between you and us, and you acknowledge that no reliance is placed on any representation made but not expressly contained in these terms.
46. Waiver: Any failure by Borong-MY to exercise or enforce any rights or provisions in this Digital Niaga Program Terms of Application shall not be deemed to constitute a waiver of such right or provision or operate as to bar the exercise or enforcement thereof at any subsequent time or times.
47. Notices: Any notice, request, demand or other communication to Borong-MY shall be given or made in writing and delivered personally or sent by prepaid registered post to our registered address. Borong-MY shall be deemed to have received such notice only upon receipt.
48. No Assignment: Borong-MY reserves the right to assign, novate, transfer and/or sublicense these terms or any part thereof to any person or entity without your prior written consent. You shall not assign, novate, transfer and/or sublicense these terms or any part thereof to any person or entity without our prior written consent. For the purpose of this clause, assignment will include any assignment by operation of law and change in control of a party.
49. Force Majeure: Borong-MY shall not be liable for any failure to perform any of its obligations under these terms if the performance is prevented, hindered or delayed by strikes, industrial disputes, fire, floods, acts of any government, riots, war, national emergency, Act of God, impediment by government laws, rules, regulations or orders or other events beyond its control and in such case its obligations shall be suspended for so long as such event continues.
50. Severability: If any provision of these terms is found to be unenforceable or invalid, then only that provision shall be modified to reflect the parties' intention or eliminated to the minimum extent necessary so that these terms shall otherwise remain in full force and effect and enforceable.
51. For any queries, please contact us at contact@borong.com
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