Common use of Business Process Clause in Contracts

Business Process. 4.1 Users who apply for Naquhua payment shall provide their true information and other related materials in accordance with the business rules and corresponding process requirements of Naquhua and authorize Party A and Party B to collect, keep and use their personal information and related comprehensive credit information through legal means. 4.2 Party A may conduct risk assessment on the User according to the information provided by the User and other information collected by Party A, and provide the Service Provider with the credit limit for the reference of the Service Provider. 4.3 The User may choose two payment methods, that is, the deferred payment or installment payment when using Naquhua for payment, and the application of using Naquhua for payment submitted by the User shall be regarded as the valid service offer to the Service Provider. 4.4 Party A shall, according to the specific requirements and actual conditions of the Service Provider, deliver the User information and risk assessment suggestions to the corresponding Service Providers. If a Service Provider refuses to provide Naquhua service for the User, Party A may assign the User to other Service Providers. Party A shall ensure that the delivery range of User information is controlled within a reasonable and necessary degree. If the Service Provider agrees to provide the service, Party A shall assist the Service Provider to issue an instruction to Party B. Party B shall make the corresponding creditor’s ▇▇▇▇ according to the instructions of the Service Provider and Party A in the Naquhua system. 4.5 If the User chooses the deferred payment, he/she only needs to pay the service repayment principal on or before the due date; if the User chooses the installment payment, he/she may apply for the monthly installment of the consumption principal (up to 12 installments), and shall pay the Service Provider appropriate interests and service fees. Party B shall take full advantage of the Naquhua platform to display to the User the above interests and service fees. Party A shall generate repayment schedule and feedback it to Party B based on the consumption principal in accordance with the service period, service rate approved by the Service Provider, and Party B will display to the User the said through the Naquhua platform. 4.6 The User’s single expense account period shall commence from the consumer billing date. Both parties agree that if the Service Provider is a commercial factoring company, Party A and Party B shall assist the Service Provider to complete the assignment of the receivables arising from the credit sales on the Naquhua platform within the account period, provided that the Service Provider shall cooperate with the Naquhua Platform and meet the requirements of the merchants to sign the necessary documents. Party B shall assist the factoring company to obtain the authorization of the merchants who open the “Naquhua” business and agree to transfer their receivables to the factoring company and inform the User in an appropriate manner that they have transferred the receivables to Party A. 4.7 Party A shall assist the Service Provider to pay the designated account of Party B for settlement with the merchant on the day next to the consumer billing date by paying the consideration of the receivable or the consideration of the loan issued to the User. 4.8 Party B shall inform the User that the User can only repay the Service Provider through Naquhua, and Party B shall pay the full repayment to the designated account of the Service Provider the next day after receiving the repayment (including the principal, interests, service fee, etc.) from the User. After the repayment of the User is completed, Party B shall inform Party A and the Service Provider of the User repayment. Party A shall assist the Service Provider to confirm and resume the User’s credit limit promptly, and shall promptly send back the updated credit limit and the new repayment schedule to Party B. 4.9 Users who apply for early settlement of all or part of the principal shall pay the corresponding service fee. If Users return all or part of the goods, the refund shall be determined by Naquhua platform or in accordance with the designated policies of the merchants. Party B shall pay the full refund of the merchant to the account of the Service Provider or the designated account of Party A. Party A shall be responsible for coordinating the settlement between the Service Provider and the User, restoring the corresponding credit limit of the User and generating a new repayment schedule which shall be displayed to the User by Party B. 4.10 If there is no other agreement, and the User makes partial repayments, and Party B shall offset it according to the liquidated damages (if any), the service fee or interest, and the principal of consumption. 4.11 When the User repayments are overdue, the Service Provider will initiate the collection work or entrust Party A to collect repayment from the User. Party B shall assist the Service Provider and Party A’s collection work and provide the necessary User information and relevant materials so as to facilitate the collection work.