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TERMS AND CONDITIONS
        As used herein, the word “Card” refers to the Credit Card and Chargebook issued by PurchasePlus Corporation (PC), and/or the card issued by another credit company or accredited establishment guaranteed by PC. “Cardholder” means the person to whom the Card is issued.

1. RESPONSIBILITY OF THE CARDHOLDER - Unless otherwise provided herein, the Cardholder assumes full responsibility for all obligations, charges incurred and credit extended on the use of the Card until its expiration. Cardholder shall be liable to PC for any and all amounts charged to the Card, including interests, applicable fees, and other charges, whether authorized or unauthorized by Cardholder, subject only to the provisions of Section 5 here. Cardholder likewise agrees to accept and pay for such charges without the necessity of proof of a signed charge or sales slip, even without actually receiving a statement of account, and regardless of the manner of collection used.Cardholder acknowledges that the care and safety of the Card is his sole responsibility, and agrees to safeguard it against loss, theft, and fraudulent or unauthorized use. Cardholder will be liable to PC for charges or transactions arising from fraudulent or unauthorized use of his Card, subject to the provisions of Section 5 here.
2. THE CARD - The Card issued by PC is the sole property of PC. It is not transferrable and will be honored by PC's accredited establishments only when properly signed and presented by the authorized Cardholder in good standing subject to PC's existing policies, rules and regulations as the same may be amended or supplemented from time to time. Use of the Card is subject to the Terms and Conditions given here or as amended from time to time. Cardholder's signature on the Card and/or his use of the Card, with or without signing any Card application form signifies his agreement with these Terms and Conditions and assumes liability for any and all charges and fees incurred in the use of the Card, whether authorized or unauthorized, subject to the provisions of Section 5 here. The privileges of the Card may be suspended, canceled or terminated by PC at anytime and for whatever cause and the Cardholder agrees to surrender his Card upon demand to any PC duly authorized representative or office. The Cardholder agrees to hold PC free and harmless from any claim for damages arising from such suspension, cancellation and termination. Continued use of the Card despite notice of such shall be considered fraudulent and will subject the Cardholder to appropriate legal proceedings.
3. MEMBERSHIP FEE -The Cardholder agrees to pay the Annual Membership Fee as determined by PC for the card benefits and privileges and/or other services which may be amended from time to time, and/or for the maintenance and administration of any balance or transaction on the card. Annual Membership Fees may be subject to change at the discretion of PC and are non-refundable even if the credit privileges are suspended or terminated, or even if the Cardholder cancels or surrenders the Card  before its expiry date.  The continued use of the card shall be construed as acceptance by the Cardholder of the amended terms, benefits, credit limit and fees unless Cardholder expressly object to them in writing.
4. EXPIRY, RENEWAL OF THE CARD - Unless earlier terminated, voluntarily canceled, or returned by the Cardholder, the Chargebook shall be valid from the day of issuance or renewal and expires on the last day of the month indicated on the Chargebook. Renewal of the Card shall be at the option of PC. PC shall likewise have the option of reinstating Cardholder privileges which have been  terminated for any reason whatsoever upon payment of an additional processing fee equivalent to the annual fee.
5. LOST OR STOLEN CREDIT CARD -In the event the Card is lost or stolen, the Cardholder shall immediately make a written report within 24 hours to PC, stating the place, date and circumstances thereof and the last purchase/s made. The Cardholder agrees that a reporting period of at least 3 working days is given to PC to disseminate to accredited establishments the required information of loss/theft of Card and any and all unauthorized purchases made and charges incurred arising from the use of the lost/stolen Card before and after receipt by PC of the written report within the warranted reporting period of 3 working days shall be for the exclusive account of the Cardholder. Should the Cardholder fail to report immediately to PC after the discovery and to state the required information as to the place, date and last purchase/s made, said failure shall be deemed proof that the Cardholder fraudulently made use of the Card and any and all purchases and/or payments for services through the use of the lost Card  shall be for the exclusive account of the Cardholder and PC and its accredited establishments shall be made free and harmless from any and all claims for damages. A reasonable fee shall be charged by PC for replacement of the lost or stolen Card.
6. CREDIT LIMIT - Upon approval of the Cardholder's application, the Cardholder shall be granted a monthly credit limit which represents the maximum outstanding balance of charges that a Cardholder may be allowed to maintain at any given time. The Cardholder agrees not to exceed his credit limit, otherwise, all charges, including applicable fees, shall become due and demandable without need of further notice or demand and the credit privileges shall be suspended immediately pending full settlement thereof. The suspension, cancellation, termination and expiration of the Card shall terminate the credit limit extended to the Cardholder under this terms and conditions. PC may, at its sole option and at any time, reduce the Cardholder’s Credit Limit whether during the effectivity of the Card or upon reissuance or renewal, and the Cardholder will be notified of such reduction thereafter by way of the reissuance of Chargebook where the Credit Limit is indicated.
7. ACCREDITED ESTABLISHMENTS - PC has accredited establishments to honor the Card for purchases of goods and services. However, PC shall not be liable to the Cardholder, if for any reason the Card is not honored. Cardholder agrees to hold PC free and harmless from any and all claims for damages as a result of the refusal of any accredited establishment to honor the Card. Cardholder's liability to PC is absolute, and the existence of any claim or dispute between the Cardholder and any accredited establishment shall in no manner affect the Cardholder's obligation to pay all charges made with the use of the Card.
8. STATEMENT OF ACCOUNT - The Cardholder shall be issued a statement of account twice a month. The Statement of Account or Billing Statement specifies the payment due date together with all the charges made by the Cardholder within a billing cycle. The billing statement will be sent twice a month to Cardholder’s billing address as indicated in the application form or to the last known billing address in PC’s records. At PC’s option, the bi-monthly billing statements may be sent via personal delivery, registered mail, e-mail, short messaging service, or other means of delivery, and when sent as such, it shall be conclusively deemed received by the Cardholder. If for any reason, however, the Cardholder does not receive the statement of account before the payment due date, the Cardholder agrees to immediately notify PC. Non-receipt of the Statement of Account, however, shall not relieve the Cardholder of his obligation to pay the amounts due on the card on the Payment Due Date. In case of any billing inquiries or error, the Cardholder agrees to notify PC immediately in writing. If no error is reported within fifteen (15) days from Statement Date, the Cardholder agrees and confirms that the Statement of Account is true and correct.
9. PAYMENT OF CHARGES AND FEES - PC shall furnish the Cardholder a bi-monthly statement of account and the Cardholder agrees to pay all the charges through PC's authorized agents/collectors or through banks assigned for such purpose on or before the last day of payment as stated in the statement of account. If the last day of payment as stated on the statement of account falls on a Saturday, Sunday or holiday, the last day of payment automatically becomes the last working day prior to said payment date. The Cardholder will be imposed an interest of 3.5% on the outstanding balance of the account and a penalty fee of 5% on the balance due per billing cycle or Php20.00, whichever is higher. Provided that if there occurs any change on the prevailing market rates, PC shall have the option to adjust the rates of interest and penalty fee due on the outstanding obligation with prior notice to the Cardholder. The Cardholder hereby authorizes PC to correspondingly increase the rate of such interest and penalty fee in the event of changes in the prevailing market rates, and to charge additional service fees as maybe deemed necessary in order to maintain its service. These fees may include finance charge, annual membership/renewal fee, lost Card replacement fee, returned check fee, over-limit fee, installment conversion fee, availment fee, cancellation fee and other applicable fees in connection with the issuance and use of the Card or with any other credit facilities granted by PC in connection with the Card.
10. DEFAULTS, ATTORNEY'S FEES & VENUE - In case of default in any of the Cardholder’s obligations, the right to use the Card shall automatically be terminated without need of further notice and the Cardholder shall refrain from further using such Card and shall surrender the same to PC’s office or its duly authorized representative on demand. The entire unpaid obligation and all other fees, charges, and amounts payable to PC shall immediately become due and payable without presentment, demand, protest or further notice of any kind, all of which are deemed expressly waived by the Cardholder. Cardholder shall be considered in default, irrespective of the reasons for its occurrence and regardless of whether it is voluntary or involuntary, if i.) The Cardholder fails to pay on Payment Due Date any amount payable on the Card; ii.) The Cardholder’s availments for the month exceed his assigned monthly credit limit; iii.) False information is provided in the Card application form or information required in the Card application form is not disclosed; iv.) Cardholder is suspended or separated from employment or business operations are suspended or closed; v.) Cardholder fails to comply with any of the terms and conditions of any agreement governing the issuance and use of the Card; vi.) An event or circumstance transpires that, in PC’s reasonable opinion, will adversely affect the Cardholder’s performance or payment of obligations under these terms and conditions. If the collection of the account is referred to a collection agency and/or enforced through court action, the Cardholder agrees to pay the cost of collection and/or attorney’s fees equivalent to 25% of the unpaid obligation, including all interest charges and fees, as well as the expenses of litigation and judicial costs. The venue of all civil suits to enforce these terms and conditions, or any other suit directly or indirectly arising from the relationship between the parties as established herein, whether arising from crimes, negligence or breach hereof, shall be in the proper courts at the option of PC, the Cardholder waiving all other venues.
11. CO-MAKER - An applicant whose income falls below the required minimum should have a co-maker acceptable to PC who shall be jointly and severally liable with the Cardholder to pay PC all obligations and charges incurred and credit extended on the basis of the  Card. In the event the co-maker of the Cardholder in the Card application subsequently withdraws as such, the co-maker shall notify Cardholder and PC in writing of such withdrawal. The co-maker shall be discharged provided that the co-maker’s payment liability on the Card shall cover all charges incurred through the use of the Card up to fifteen (15) days after receipt of such notice of the co-maker by PC. In the event the co-maker of the Cardholder is discharged, the Cardholder agrees to have a co-maker acceptable to PC within fifteen (15) days. Otherwise, the Cardholder’s privileges will automatically be suspended.
12. TERMINATION - In the event of the Cardholder fails to comply with any of the terms & conditions herein provided or for any reason fails to renew the Card, or the Card is not renewed by PC or Cardholder dies or is separated from employment or becomes insolvent (however evidenced), the right to use the Card shall forthwith terminate, and the aggregate unpaid accounts of the Cardholder inclusive of any fee, expense or charge of which Cardholder is liable shall immediately become due and demandable without the necessity of demand, which the Cardholder hereby waives.
13. CHANGE OF ADDRESS AND OTHER INFORMATION - Cardholder shall notify PC of any change of residence, office and/or mailing address. Cardholder shall, likewise, notify PC of any change in Cardholder information, such as but not limited to civil status, telephone number and income.
14. LIMITATION OF LIABILITY - In case of any action which the Cardholder may file against PC for any cause whatsoever, Cardholder agrees that PC's liability shall not exceed the amount of One Thousand Pesos (1,000.00) Philippine Currency, or the damages actually proved to have been suffered by the Cardholder, whichever is lower.
15. AMENDMENTS - PC, at any time, and for whatever reason it may deem proper, amend, revise or modify this terms and conditions. Any such amendment shall bind the Cardholder upon receipt of notice thereof by publication, or other means of communication, electronic or otherwise unless the Cardholder objects thereto by manifesting the intention to terminate the membership in writing and surrendering the Card within fifteen (15) days from the receipt of notice of amendment. Failure to notify PC of the Cardholder's intentions to terminate the membership and the continued use of the Card shall be construed as unconditional acceptance by the Cardholder of the amendments to this Agreement.
16. SEPARABILITY CLAUSE - The enforceability and validity of this Agreement, in whole or in part, shall not be affected by the enforceability or invalidity, whether temporary or permanent, or any particular provision of this Agreement because of restrictive laws, regulations, or judicial, or administrative determinations obtained during any period of this Agreement or for any other cause.
17. AGREEMENT - The Cardholder agrees to be bound by these Terms and Conditions Governing the Issuance and Use of PurchasePlus Installment Credit Card as soon as the Cardholder signs the Card.