Contents:

Agreement on Interest Loan

Terms of Service

Privacy Policy

Interest Bearing Loans and Charitable Donations:

Guided by the civil law of the United States of America the parties have concluded the following agreement:

ARTICLE 1 - AGREEMENT OBJECTIVE

• The Lender shall lend to the Borrower the predetermined amount on the mPOWR website in USDollars (hereinafter as “Loan”) for operation of and making profit through the borrower’s business.  The Loan shall be used only for the purposes directly connected with the goal mentioned in this Article.
  
•  This agreement is made effective at the time the loan funds are transferred to the field partner for funding.
  
•  The Lender shall lend the Loan with interest at the predetermined interest rate  per annum; the Borrower shall repay the Loan with interest.
  
•  The sum of the Loan in local currency is equivalent to the US Dollar amount predetermined on the mPOWR website. The sum of the Loan determined in this Article shall be lent to the Borrower for the predetermined amount of time from the origination date of the loan, which is the 5^th day of the month after the business is fully funded.
  
• Loan payments are due according to the payment schedule outlined on the mPOWR website. Payments that are more than 5 days late are “officially” marked as late payments. Late payment history will be reflected on the field partner and borrower’s profile pages on www.mpowr.org.
  
• Due to funds transfer fees, some payments may be deferred for a period of 3 months if the total payment due is less than $200 for a particular field partner.
  

 ARTICLE 2 - OBLIGATION OF THE PARTIES

• Scheduled Repayment - At the date of the origination of the Loan, provided in Article 1 of this Agreement the Borrower shall repay to the Lender the entirety of the loan in the manner and conditions provided by Article 1.  mPOWR ensures that every effort will be made by the field partner and borrower to repay the loan under the agreed upon terms.
  
• Date of execution of the Borrower’s obligation to repay the Loan to the Lender shall be according to the repayment schedule outlined in Article 1.  If able, the Borrower shall have the right to repay the Loan in full before the date of the final payment.
  

ARTICLE 3 - RESPONSIBILITY OF THE PARTIES

• In case of deterioration of the financial standing of the Borrower or misuse of the Loan or when the Borrower has not any security, The Lender understands and hereby consents (without any prior notice thereof) to any restructuring of the repayment plan and/or, in mPOWR's sole discretion, any extension of the length of the term of the Loan in order to increase the chances that your Loan is repaid. mPOWR will deem a Loan to be in default if it is not repaid within six (6) months after the agreed upon maturity date of such Loan (mPOWR and the Field Partner reserve the right to extend the Loan's maturity date upon mutual agreement under special circumstances).
• If for any reason after recovery efforts have been made, less than 100% of the Loan is repaid, the Lender agrees that mPOWR and its Field Partners and the Borrower shall have no liability therefore, and hereby releases and forever holds harmless mPOWR and its Field Partners and the Borrower for any loss incurred.

 ARTICLE 4                            GENERAL PROVISIONS

• This Agreement shall enter into force at the time of origination of the loan. By lending to the business electronically through www.mpowr.org, the lender agrees to its terms. By posting the business electronically on the www.mpowr.org site, the field partner and borrower agree to its terms.
  
• All amendments and additions to this Agreement shall be in writing and approved by the Parties.  This Agreement is executed in English.
  
• The responsibility of the parties shall be determined in accordance with the laws of the United States of America.  All disputes on this Agreement among the Parties shall be solved by peaceful negotiations.  If the Parties do not find peaceful solution, disputes will be governed by the laws of the State of Virginia without regard to its conflict of law provisions. You agree to personal jurisdiction by and venue in the state and federal courts located in the State of Virginia.