Definitions

The terms used in these Terms and Conditions with capital letter will have the meanings that the Parts attribute below, within the understanding that they will be equally applicable in their singular or plural forms:

“Account allocation”: Is the allocation being given by the Client to the Negotiator from an account for the provision of Services either directly or through KOBRA. Allocation will also be understood as the moment that the negotiator receives the information for having Set the Account Aside.

“Authorities”: Any Mexican authority related to the present Terms and Conditions.

“Allocation Letter”: Document that Negotiators and Clients must sign for Account allocation.

“Portfolio”: Group of credits and financing that the Client has bestowed and that is pending payment by Debtors on behalf of the Client, as well as the information of services that Negotiators are about to provide.

“Client”: Financial Institution that requires the services of the Negotiator through the Platform.

“Password”: Individual and confidential combination of numbers and/or letters, with which Registration is confirmed, which is related to the use of the Platform, and can be able to be generated by the Client.

“Reserved Account”: Account chosen by the Negotiator, which must be managed in less than 48 hours once reserved

“Account on Hold”: Status of the Account once the Negotiator carries out the Service and is on hold for the Client to make a decision.

“Account”: Information of the Debtor or Prospect provided by the Client for carrying out Collection or Validation Visits.

“Debtor”: Physical and moral person that must respond before the Client, within their character as a debtor

“Business Day”: Days in which KOBRA carries out its activities, holidays and weekends are not included.

“Business Hours”: hours during which KOBRA carries out its activities, holidays and weekends are not included.

“Confidential Information”: Refers to all information contained in the Platform.

“Media”: In an indistinct yet non limitative way, email, the Platform, text message, SFTP (Security File Transfer Protocol) and API (Application Programming Interface).

“Platform”: Mobile app, available for Android, as well as website www.kobra.red all property of KOBRA.

“Prospects”: Physical or moral persons to which the Client pretends to provide a service

“Complaints”: Those complaints presented by the Debtor or Prospect before any Mexican authority or the Client for considering that through the providing of Services their rights have been infringed.

“Report Generation”: Reports realized by the Negotiators regarding the status of collection or validation visits carried out, as well as any other report that can be generated through the Platform.

“Services”: Refers to the provisions considering the present Terms and Conditions Negotiators carry out with regards to the instructions given by the Client through the Platform.

“Collection visit”: Visit that the Negotiator makes to the address of the Debtor to prevent or recover Payments overdue, with regards to the Client’s instructions.

“Validation visit”: Visit the Negotiator makes to the address of the Prospects with regards to the Client’s instructions to validate the provided information upon soliciting a service.

These Terms and Conditions constitute a binding agreement between any person (“Negotiator” from now on) who downloads, browses and uses the Platform.

These Terms and Conditions are understood as accepted by the Negotiator every time they download, browse and/or make use of the Platform.

Any modification to the present Terms and Conditions will be made by KOBRA, when considered appropriate, and being the exclusive responsibility of the Negotiator to make sure to be aware of said modifications.

The Platform has as its objective to facilitate the hiring of Services, previously standarized and agreed to between Negotiators and Clients.