Common use of Minimum Criteria Clause in Contracts

Minimum Criteria. 3.1. The Borrower acknowledges, affirms and understands that the Loan/s is being granted subject to the Borrower fulfilling the following minimum criteria and the Borrower hereby represents and warrants to the Lender that the Borrower satisfies or shall satisfy these minimum criteria: a. The Borrower’s age is above twenty (20) years when applying for the Loan; b. The Borrower’s residential address is located within Sri Lanka; c. The Borrower provides his/her Verification Code; d. The Borrower is answering verification call placed to the Borrower by the Lender, if any, and verifying his/her identity and accepting the loan application to the satisfaction of the Lender; and e. The Borrower’s references verifying the information supplied by the Borrower, if the Lender contacts them. 3.2. The Borrower agrees and understands that the Lender has conducted and/or may conduct data verification, as the case may be, which shall include but not be limited to: a. Verification by way of phone calls to the Borrower and references provided by the Borrower as well as to the Borrower’s employer if deemed necessary by the Lender; b. Mobile phone verification; c. Verification by the identification document provided by the Borrower.

Minimum Criteria. 3.1. The Borrower acknowledges, affirms and understands that the Loan/s is being granted subject to the Borrower fulfilling the following minimum criteria and the Borrower hereby represents and warrants to the Lender that the Borrower satisfies or shall satisfy these minimum criteria: a. 3.1.1. The Borrower’s age is above twenty (20) years when applying for the Loan; b. 3.1.2. The Borrower’s residential address is located within Sri Lanka; c. 3.1.3. The Borrower provides his/her Verification Code; d. 3.1.4. The Borrower is answering verification call placed to the Borrower by the Lender, if any, and verifying his/her identity and accepting the loan application to the satisfaction of the Lender; and e. 3.1.5. The Borrower’s references verifying the information supplied by the Borrower, if the Lender contacts them. 3.2. The Borrower agrees and understands that the Lender has conducted and/or may conduct data verification, as the case may be, which shall include but not be limited to: a. 3.2.1. Verification by way of phone calls to the Borrower and references provided by the Borrower as well as to the Borrower’s employer if deemed necessary by the Lender; b. 3.2.2. Mobile phone verification; c. 3.2.3. Verification by the identification document provided by the Borrower.