The Secured Peer-to-Peer Loans Platform is intended solely for S.T.A.R. Storage Accounts who satisfy the criteria described in these terms and are not otherwise restricted from participating in the Secured Peer-to-Peer Loans Platform.

Representation and Warranties of Participants

You represent and warrant that:

When participating as a Borrower and in addition to any of your other representations and warranties under the Terms of Service, you further represent and warrant that:

When participating as a Lender and in addition to any of your other representations and warranties under the Terms of Service, you further represent and warrant that:

Restricted Accounts and Users

Silver Bullion may, from time to time, restrict certain accounts, account types, or users from participating in the Secured Peer-to-Peer Loans Platform either as a Borrower, Lender, or both as a result of a breach of any warranties or representations and in accordance with various risk factors, internal policies, laws, and regulations. We reserve the right at our sole discretion, without notice and without liability to you, to make such determination to restrict certain accounts, account types, or users from participating in the Secured Peer-to-Peer Loans Platform.

You agree that any transaction under the Secured Peer-to-Peer Loans Platform is done directly between the Lender and Borrower, and at no time shall you, as a Lender, be lending money to us. We only carry out specific roles in the Secured Peer-to-Peer Loans Platform, which are described below:

You accept and agree that in the performance of our role in the Secured Peer-to-Peer Loans Platform, we shall have the right, at our sole good faith discretion, to:

To participate as a Lender in the Secured Peer-to-Peer Loans Platform, you will be required to pre-fund your Peer-to-Peer Fund Balance. Your Peer-to-Peer Fund Balance may hold balances in Singapore Dollars, US Dollars, Euro, and any other currencies as may be added by Silver Bullion from time to time.

Customer funds under the Peer-to-Peer Fund Balance are held in a segregated P2P Client Bank Account. You may fund your Peer-to-Peer Fund Balance through a direct bank transfer to these designated P2P Client Bank Accounts. You may not fund your Peer-to-Peer Fund Balance by giving us cash, using debit or credit cards, or by paying using cryptocurrencies.

You agree that all banking charges both in Singapore and abroad shall be borne by you and shall be deducted/charged to your account. These banking charges include, but are not limited to:

If you hold a:

Funds held in your Peer-to-Peer Fund Balance are exclusively for the purpose of participating in the Secured Peer-to-Peer Loans Platform or for immediate withdrawal to your Linked Bank Account. We do not pay interest on balances held in your Peer-to-Peer Fund Balance. Funds deposited into your Peer-to-Peer Fund Balance but not used within 90 calendar days of our receipt may be returned without notice.

Where your Peer-to-Peer Fund Balance holds balances in currencies where our banking partners charge negative interest, you accept that we may charge you a Currency Holding Fee to cover the additional banking fees incurred to maintain bank accounts in those currencies. Such currency holding fee shall be calculated daily and billed monthly in the rate and manner specified in our Schedule of Charges as updated from time to time on our Website.

We may return funds, no matter the consequences, if we are not satisfied with its source and proceed to cancel the requested transaction or settlement. In case of doubt, we may contact you to seek additional information concerning the funds' source, which you agree to provide. You hereby agree and acknowledge that we are entitled to suspend the transaction until such additional information is received from you and is satisfactory to us. You shall be liable for all costs and expenses incurred by, directly or indirectly, us in connection with such suspension.

You may borrow under the Secured Peer-to-Peer Loans Platform by submitting a Borrowing Request based on your preferred terms, including amount, currency, collateral, Interest Rate, and period or by accepting an existing Lending Offer. When a Borrowing Request is posted, all Parcel(s) and/or S.T.A.R. Gram holdings pledged as collateral for such request will be temporarily locked and cannot be sold or taken delivery of unless the Borrowing Request is cancelled while the request is still unmatched.

Once a Borrowing Request is filled/matched, and a Loan Contract is created, you agree and acknowledge that:

Grant of Security Interest

To secure the prompt payment to the Lender and the performance each covenant and obligations under these terms and the Loan Contract, each Borrower hereby grants, pledges, conveys and assigns to the Lender, a continuing security interest in and liens upon all of such Borrower's right, title and interest in the Collateral. The absence of any reference to these terms in any documents, instruments or agreements evidencing or relating to any obligation secured hereby shall not limit or be construed to limit the scope or applicability of these terms. Upon an indefeasible payment in full of the obligations secured hereby, all Collateral will be released from the security interest.

Loan Advance

Loans have fixed start and end dates. To bridge the period between the Loan creation and the date that the loan proceeds become available to the Borrower – Loan Start Date, a Borrower can request for a Loan Advance for a sum not exceeding the amount receivable on the next Loan Start Date. A Loan Advance may also be requested to facilitate the repayment of a Loan by liquidating its Collateral.

Once a Loan Advance request is accepted, you accept and agree that:

You may lend under the Secured Peer-to-Peer Loans Platform by submitting a Lending Offer based on your preferred terms, including amount, currency, Interest Rate, and period or by accepting an existing Borrowing Request. When a Lending Offer is posted, the equivalent amount will be temporarily locked as reserve funds from your Peer-to-Peer Fund Balance. From that moment onwards, you will not be allowed to withdraw or make use of the reserve funds until the Lending Offer is cancelled while the offer is still unmatched.

Once a Lending Offer is filled/matched and a Loan Contract is created, you agree and acknowledge that you are now bound to the terms of such Loan Contract and that you shall not be entitled to cancel the Loan or demand for early repayment, save for those provided under these terms. You agree that as a Lender, you irrevocably appoint us as your agent for the sole purpose of performing the following duties for as long as the Loan Contract you entered as a Lender, and these terms remain in force:

A failure by the Borrower to provide additional collateral when requested by us may trigger a Liquidation Event and, consequently, an immediate early repayment of the loan principal plus full interest from the proceeds of the collateral liquidation. You agree that you shall not be entitled to seize, acquire, or otherwise demand the transfer of ownership of the Collateral to you in lieu of the repayment or settlement of the Loan.

You agree that as a Lender, you are solely responsible for any past, present, and future taxes on the interest income you earned from a Loan entered under these terms.

We will accept the posting of a Lending Offer only when there are sufficient funds in the Lender’s Peer-to-Peer Fund Balance for the relevant currency. Likewise, we will only accept the posting of a Borrowing Request when there are sufficient unencumbered Parcel(s) or S.T.A.R. Gram holdings in the Borrower’s S.T.A.R. Storage Account to serve as Collateral.

Matching of Lending Offers and Borrowing Requests

Lending Offers and Borrowing Requests are matched either (a) manually by accepting existing lending offers or borrowing requests, or (b) automatically by matching Lending Offers and Borrowing Requests. Automatic matching of Lending Offers and Borrowing Requests happens once a request and offer are identified by our systems as an exact match based on all terms such as currency, start date, tenor, and Interest Rate. Such matching will be made on a first-in, first-out basis.

Cancellation of Lending Offers and Borrowing Request

You have the right at all times to send an online request through the Website to cancel all or part of a non-executed or unfilled Lending Offer or Borrowing Request that you have posted. Once executed or matched, Lending Offers and Borrowing Requests cannot be reversed or cancelled. Time-limited Lending Offers and Borrowing Requests will be automatically cancelled once their selected active time period has lapsed.

You agree that Lending Offers that have been partially filled/matched and are below the minimum amount for Lending Offers will be automatically cancelled. You agree that non-executed or unfilled Borrowing Request where the Collateral Coverage has decreased to 130% will be automatically cancelled.

When we cancel a Lending Offer or Borrowing Request that you have placed, we will inform you promptly by e-mail. You agree that we assume no liability for any loss or expense you will suffer or incur as a result of such cancellation.

Silver Bullion may, from time to time, allow different asset types under its custody to be used as Collateral under the Secured Peer-to-Peer Loans Platform. For the purpose of determining the loanable amount, LTV, or Collateral Coverage, Silver Bullion may, at its sole discretion, use Market Based Valuation or Fixed Valuation for different asset types.

Market-Based Valuation

For bullion, electric vehicle metals, and digital gold (i.e., S.T.A.R. Gold Gram) with a reliable active market, the valuation of collaterals carried out by us will generally be based on a product sum of the metal mass multiplied by the prevailing traded spot price. The Collateral Value of asset types using Market Based Valuation will frequently change from time to time in response to the changes in the prevailing spot prices of such assets.

Fixed Valuation

For other asset types such as luxury watches or jewellery, the valuation of collaterals carried out by our Qualified Subcontractors will generally be based on several factors, including the retail price, secondary market price, brand, make, year produced, mechanical condition, cosmetic condition, and accessory sets. The Collateral Value of asset types using Fixed Valuation will not frequently change from time to time.

By participating as a Lender, Borrower, or both in the Secured Peer-to-Peer Loans Platform, you agree to and accept the valuation methodology used by Silver Bullion or its Qualified Subcontractors for each asset type and assigned Collateral Value of each asset for the purpose of using such asset as security under these terms.

Early Repayment

Borrowers may prepay a Loan, in its entirety, by providing us written notice of such request. Partial repayment of a Loan is not allowed. The prepayment of a Loan will become effective within one (1) business day after the full outstanding loan balance, including the full interest and any fees due, is received from a Borrower. The locked Collateral will be released with immediate effect upon the full repayment of the amount due.

Loan Maturity and Repayment

If any payment becomes due on a day that is not a Business Day, the Due Date of such payment will be brought forward to the last business day before the original Due Date.

The Borrower agrees that funds in settlement of its obligation under these terms must be in the Peer-to-Peer Account by 12:01 AM SGT on the relevant Due Dates. Should funds in your Peer-to-Peer Account be insufficient to cover your loan commitment by 12:01 AM SGT on the relevant Due Dates, such deficiency will be considered a Late Payment and subject to Clause 9.

Roll-Over

As an alternative to sending funds, or if the Borrower is unable to do so in time, the Borrower can "roll-over" a maturing Loan by obtaining a new loan from the Secured Peer-to-Peer Loans Platform. Collaterals of a maturing Loan are unlocked seven (7) to ten (10) days before the Due Date to facilitate such roll-overs.

Repayment through Collateral Liquidation

A Borrower may request for the full repayment of a Loan through the sale of the Collateral, by providing us written notice of such request. By requesting a Repayment through Collateral Liquidation, the Borrower accepts and instructs Silver Bullion to:

The Borrower accepts and agrees that the liquidation of the Collateral under this Clause 8.4 shall be made in the following manner:

Late Payment and Sweeper Fund Provider

In order to limit the knock-on effects of a Borrower’s failure to fully settle any of its payment obligations when they become due, you accept and agree that Silver Bullion may appoint a substitute party ("Sweeper Fund Provider") to temporarily finance the shortfall and fund and effect the payment on behalf of the Borrower. The Borrower agrees that a Late Payment Penalty as published on our Website will be due from the Borrower should the temporary financing be extended by the Sweeper to cover any shortfall by the Borrower on the relevant due dates.

When funds for the Late Payments are eventually credited to the designated P2P Client Bank Account, these funds will be credited to, or set-off against, any of such temporary advances made by the Sweeper, including any Late Payment Penalties as described in this section.

Event of Default

A Loan shall be considered in default should the Borrower fail to meet its payment obligations and/or loan conditions under these terms and the terms of the Loan Contract. Default under these terms can be classified as (a) Debt Service Default which occurs when the Borrower has not made the required payment (including any eventual Late Payment Penalties) of the principal or interest due and when such default in payment continues for the next four (4) Loan Start Dates or thirty (30) days, whichever is shorter, or (b) Technical Default which occurs when the Borrower breaches any commitment, conditions, these terms or the terms of the Loan Contract.

A Debt Service Default shall include an event where:

A Technical Default shall include an event where:

Acceleration

Upon the occurrence and during the continuance of an Event of Default under Clause 9.2, Silver Bullion, acting on behalf of the Lender or Sweeper Fund Provider, as the case may be, shall immediately exercise any right, power or remedy permitted to the Lender or Sweeper Fund Provider under these terms, and shall have, in particular, without limiting the generality of the foregoing, the right to declare the entire principal, all interest accrued, and all other charges accruing on all obligations to be forthwith due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by each Borrower.

Collateral Liquidation

Upon the occurrence and during the continuance of an Event of Default, Silver Bullion, acting on behalf of the Lender or Sweeper Fund Provider, as the case may be, shall exercise the rights and remedies of the secured party under these terms and sell the Collateral in the quantities/amounts required to recover the amount accruing from the defaulted Loan. Any excess proceeds realized from the sale shall be credited to the Borrower’s Peer-to-Peer Fund Balance.

The Borrower accepts and agrees that the Collateral will be liquated in the following manner:

To the extent permitted by applicable laws, each Borrower waives all claims, damages, and demands against us, Silver Bullion, the Lender, or the Sweeper Fund Provider arising out of the repossession, retention, sale, or disposition of the Collateral under these terms.

We will charge fees in respect of the services provided to you under these and at the manner and rate specified in the Schedule of Charges (as amended from time to time) and shall be subject to other terms as specified in the Funding and Payment Terms. Fees charged under these terms shall include (without limitation) the following:

Costs and Expenses

Each Borrower agrees to continually pay the storage fee accruing for the Parcel(s) and/or S.T.A.R. Gram holdings used as Collateral in accordance with the Terms of Service.

Survival, Successors, and Assigns

All warranties, representations, and covenants made by any Borrower or Lender herein shall be considered to have been relied upon by us and shall survive the closing of the Loan. These terms shall inure to the benefit of and be binding upon the heirs, successors, and assigns of each of the parties.

Transferability

Save as provided for in these terms, rights, undertakings, agreements, duties, liabilities, and/or obligations arising from a Loan cannot be transferred to any party without the prior written consent of all parties involved, including Silver Bullion.

Integration

These terms, together with the Loan Documents, reflect the entire understanding of the parties with respect to the transactions contemplated hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof.

Account Application Requirements

To participate in the Secured Peer-to-Peer Loans Platform through an Agent Platform, you agree that you will be required to have a S.T.A.R. Storage Account and you will be subject to the same account opening requirements as specified in the Account Terms. You expressly consent and instruct the Agent Platform Provider to facilitate your S.T.A.R. Storage Account application on your behalf and to communicate and/or share to us, personal and/or corporate information (on shareholders and beneficial owners, directors) or documents to facilitate the creation of your S.T.A.R. Storage Account. These personal information and documents will include, your full name, your residential address, your Linked Bank Account, your contact information, and all other information and/or documents we may deem necessary to open and approve your S.T.A.R. Storage Account. We reserve the right to reject your application for whatever reason and without prior notice.

Agreement to be Bound

By applying for a S.T.A.R. Storage Account through an Agent Platform Provider or by posting a Borrowing Request through an Agent Platform, you agree to enter a direct (legally binding) contractual relationship with Silver Bullion and to be bound by all the terms and provisions set forth in the Loan Contract and the Silver Bullion Terms of Service.

Authentication and Acceptance of Collateral

To participate as a Borrower in the Secured Peer-to-Peer Loans Platform, you agree that the item (e.g., luxury watches or jewellery) you wish to pledge as collateral must be submitted to the Agent Platform Provider for authentication, valuation, and acceptance as collateral. We reserve the right, at our sole discretion, to reject an item (e.g., luxury watches or jewellery) to be used as collateral.

You may borrow under the Secured Peer-to-Peer Loans Platform by accepting a Lending Offer on a lending offer displayed on the Agent Platform based on your preferred terms, including amount, currency, Interest Rate.

Once a Loan Contract is created, you agree and acknowledge that:

Grant of Security Interest

To secure the prompt payment to the Lender and the performance each covenant and obligations under these terms and the Loan Contract, you hereby grant, pledges, conveys and assigns to the Lender, a continuing security interest in and liens upon all your right, title and interest in the Collateral. The absence of any reference to these terms in any documents, instruments or agreements evidencing or relating to any obligation secured hereby shall not limit or be construed to limit the scope or applicability of these terms. Upon an indefeasible payment in full of the obligations secured hereby, all Collateral will be released from the security interest.

Upon Silver Bullion’s receipt of the Collateral, Silver Bullion shall retain exclusive possession and custody thereof, subject to these terms and the Loan Contract, for purposes of perfecting the security interest of the Lender. Silver Bullion shall make appropriate notations in its records to reflect that the Collateral contained therein has been pledged to Loan Contract.

Ownership of Collateral

The secure storage and custody of the Collateral shall constitute a bailment agreement between the Silver Bullion and the Borrower, and the title and ownership of the Collateral shall remain with Borrower. In the event that Silver Bullion, or any subsidiary thereof, shall declare bankruptcy or be deemed to be bankrupt or any similar legal equivalent thereof, in no event shall the Collateral ever be considered or treated as part of the bankrupt estate of Silver Bullion.

Acceptance and Period of Responsibility

The responsibility of Silver Bullion for the Collateral under its custody shall commence upon its physical receipt of the Collateral for storage at the designated vault location and shall remain in effect until the Collateral have been physically released to the Borrower in accordance with these terms.

Upon the physical release of the Collateral to the Borrower, the bailment for such Collateral with Silver Bullion shall likewise terminate and the record keeping of the creation and termination of the bailment is to be performed by Collateral according to these terms.

When participating as a Borrower through an Agent Platform, you agree that you will be separately charged with an Agent Processing Fee to cover the following services provided to you under these terms: a) collateral authentication, collateral valuation, storage and insurance protection of the collateral, and the provision of the borrower’s platform.

By participating as a Borrower through an Agent Platform, you agree and authorize Silver Bullion to deduct the Agent Processing Fee from the proceeds of your Loan and to remit the same to the Agent Platform Provider.