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Terms of Use

Borrowell Inc. (“Borrowell”, “we”, “us”, “our”) welcomes you to its website located at www.borrowell.com (the “Website”) and its mobile application (the “App”). Please read the following terms of use (“Terms of Use”) before using the Website, the App or any services that may be made available through the Website or App. By accessing and using the Services (defined below), including downloading, installing and using the App, you agree to be bound by these Terms of Use, whether or not you have read them. If you do not agree with these Terms of Use, your sole recourse is to immediately cease visiting the Website or using the App or Services. A copy of these Terms of Use may be downloaded, saved and printed for your reference.

BORROWELL SERVICES

Borrowell provides a variety of products and services, including the content, software, features and functions made available through the Website and the App, such as:

  • Borrowell Free Credit Score: free credit reports and scores from Equifax;

  • Borrowell Credit Coach: education and insights about your credit score;

  • Borrowell Bill Tracking: bill tracking tool; 

  • Borrowell Loan: personal term loan service; 

  • Borrowell Credit Builder: subscription program that may help improve your credit; and 

  • Borrowell Marketplace: referral and affiliate program platform which includes offers for various financial products (collectively, the “Services”).

Borrowell  owns Refresh Solutions Inc., and Refresh Card Solutions Inc., which operate under the name Refresh Financial. The Refresh Financial products appear on the Borrowell Marketplace. Borrowell provides various services including operational, marketing and customer support  in connection with the Borrowell Credit Builder which is originated by Refresh Solutions Inc. Additional terms related to this product can be found in the Borrowell Credit Builder Agreement. 

We offer our Services to select provinces and territories and reserve the right to limit the availability of our Services to any geographic area or jurisdiction, at any time and in our sole discretion. Please note that the Borrowell Loan and the Borrowell Credit Builder may not be available in your province or territory.

We reserve the right in our sole discretion to make changes to how we operate and provide our Services, including adding new services, modifying existing services, or suspending, discontinuing, or terminating your access to any or all portions of our Services. Some of our Services are subject to additional terms and conditions (“Additional Terms”), which are included in a separate document and/or agreement. If there is a conflict between applicable Additional Terms and these Terms and Conditions, the Additional Terms will control. 

REGISTRATION AND PASSWORDS

To access certain portions of the Services, including the Borrowell Marketplace, your Borrowell Loan, Borrowell Bill Tracking, Borrowell Credit Builder or other account, you may be asked to complete a registration form on the Website or through the App (the “Account”). In consideration for your use of the Services, you agree to provide true, current, complete and accurate information as requested on any registration form to which the Services may direct you, and to update that registration information as soon as possible after any information on such registration form changes.

Upon registration, you will choose a username and password. You alone are responsible for keeping that password and username confidential, and for any and all activity that occurs in connection with your use of the Services under such password or username. You agree to immediately notify Borrowell of any unauthorized use of your password or username or any other breach of security.

CONSENT FOR CREDIT SCORE AND REPORTS

If you register for an account on Borrowell’s Website or App in order to obtain a free credit score and/or credit report, Borrowell will obtain your consent to obtain and provide you with your credit score and/or credit report for free from Equifax or another consumer reporting agency. Borrowell uses your credit score, information from your credit report and other information you provide (“Account Information”) in order to better understand your financial needs and credit history, and provide you with tailored personal finance information, educational insights, recommendations, as well as personalized offers for Borrowell and third party financial services products and services that may be of interest to you based on your credit-related and other information. Borrowell will obtain and provide your credit score and credit report to you for free at the time of account creation and on a regular basis thereafter as long as you have an account with Borrowell in order to provide you with up-to-date information and offers. Borrowell will not share your credit or other personal information with third parties for marketing purposes without your consent. For more information, see our Privacy Policy. Borrowell is not responsible for the accuracy or completeness of any information contained in your credit report.

MARKETING OFFERS

In connection with your use of the Services, we may send or otherwise provide you with marketing offers about third party financial products or services that may be of interest to you (“Third Party Offers”). Borrowell makes no representations or guarantees regarding your eligibility or qualification for such Third Party Offers. If you have any questions regarding any Third Party Offers, you must contact the third party directly. You understand and agree that Borrowell is merely providing you with information on Third Party Offers that may be of interest to you, and that Borrowell has no control over or responsibility for the Third Party Offers or any loss that you may suffer as a result of the use of such Third Party Offers. You should exercise your own judgment and obtain any advice you consider necessary prior to entering into an arrangement with a third party. 

Borrowell may also periodically use your Account Information to attempt to pre-qualify or pre-select you for offers such as personal loans or credit card offers (“Pre-Qualification Offers”) in accordance with our Privacy Policy. Borrowell will determine, in its sole discretion, when, how often, and with which participating providers it checks for Pre-Qualification Offers based on criteria from each participating provider, availability of information needed to identify Pre-Qualification Offers and other relevant factors. This attempt to pre-qualify or pre-select  may result in a soft credit check from Borrowell with a consumer reporting agency that will not impact your credit score. Pre-Qualification Offers are not guaranteed approval and are subject to change. You will still need to submit an application with participating providers. If you choose to apply for a Pre-Qualification Offer with a participating provider, that provider may run a hard inquiry, which can impact your credit score. 

LINKING

It is our goal to provide increased value to visitors to the Website and users of the App. Therefore, the Service (including online advertisements) might offer you links to other sites on the Internet that are owned and operated by third parties and therefore not affiliated with us. Please understand that such linked websites are independent from Borrowell and that Borrowell has no control over the content of such websites. Consequently, Borrowell cannot be held liable and makes no warranty or representation whatsoever as to the accuracy, timeliness and/or completeness of the information contained on such websites.

The links which we might place on our Website or the Services do not imply that we sponsor, endorse or are affiliated or associated with, or have been legally authorized to use any trade-mark, trade name, service mark, design, logo, symbol or other copyrighted materials displayed on or accessible through such sites.

NO ADVICE

By using the Services, you understand and acknowledge that any information Borrowell provides to you is for informational purposes only and does not constitute financial, legal, tax, investment or other advice to you and should not be relied upon in that regard. In addition, Borrowell does not promise or guarantee that the information provided to you as part of the Borrowell Credit Coach or that using Borrowell Bill Tracking will improve your credit score.

USER CODE OF CONDUCT

As a condition of your continued access to and use of the Services, you agree to abide by all applicable federal, provincial, territorial and other laws and regulations and the “User Code of Conduct” set forth below. Specifically, in addition, without limiting the foregoing, you agree not to:

  1. upload, post, e-mail or otherwise transmit any material that:

    1. constitutes unsolicited or unauthorized advertising, promotional materials, “junk mail,” “spam,” “chain letters,” “pyramid schemes,” or any other form of solicitation;

    2. infringes any patent, trade-mark, trade secret, copyright or other proprietary or privacy rights of any party;

    3. is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, racially, ethnically or otherwise objectionable, or an unfair product comparison; or

    4. contains any form of destructive software such as a virus, worm, Trojan horse, time bomb, cancelbot, or any other harmful components or any other computer file, program or code, designed to interrupt, destroy or limit the functionality of any computer software, hardware or telecommunications equipment;

  2. harvest or otherwise collect or store any information (including personally identifiable information) about other users of the Services, including e-mail addresses, without the express consent of such users;

  3. for the purpose of misleading others, create a false identity of the sender or the origin of a message, forge headers or otherwise manipulate identifiers in order to disguise the origin of any material transmitted through the Services;

  4. attempt to gain unauthorized access to the Services, other computer systems or networks connected to the Website, through password mining or any other means;

  5. interfere with or disrupt networks or servers connected to the Services or violate the regulations, policies or procedures of such networks; and

  6. use, download or otherwise copy, or provide to any person or entity any Website users directory or other user or usage information or any portion thereof other than in the context of your use of the Services.

CONTESTS

From time to time we may offer and/or co-sponsor contests or promotions in connection with the Services, such as our Refer-a-Friend program and contest. Each of these activities shall be governed by specific rules accessible from the pages of the Website or App offering the promotion or when you submit your entry.

BORROWELL MARKETPLACE

The Borrowell Marketplace is a platform that allows you to get information about and compare various types of  financial products such as loans, credit cards, car loans and mortgages from different third parties. 

Some information about certain financial products appearing on the Website and/or App is provided directly by the third party. Borrowell makes no representations or warranties about the accuracy of any information contained on the Website and/or App, and shall not be responsible for any inaccuracies, misrepresentations, errors or omissions in the information provided, and some information may not always be up to date. You are strongly encouraged to do your own research before relying on any of the information provided on the Website and/or App. You should exercise your own judgment and obtain any expert advice you consider necessary prior to entering into an arrangement with a third party. 

While the Borrowell Marketplace provides information on a wide range of products or services, there may be other products or services available on the market which are not shown on the Website or App and which may be more appropriate or suitable for you. 

BORROWELL BILL TRACKING

Borrowell offers a free bill tracking tool. This tool helps you track bills and protect your credit score, while avoiding costly bank fees. Borrowell Bill Tracking uses historical bank account transactions to predict future bills, and notifies you about upcoming due-dates or when your balance is running low. 

If you subscribe to Borrowell Bill Tracking, you direct Borrowell to retrieve your account transaction history, balance information, and/or other information maintained by the financial institution that you choose during Borrowell Bill Tracking registration (“Third-Party Account Information”). Borrowell works with one or more third-party service providers to access this Third-Party Account Information. By using the Services, you authorize Borrowell to access this information maintained by identified third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us. By using Borrowell Bill Tracking, you are also agreeing that you are responsible for keeping your passwords and usernames for this Third-Party Account Information secure and for keeping those passwords and usernames up to date in the Services.

You acknowledge that any Third-Party Account Information that is displayed through the Services will be the information we most recently accessed, and that this information may not reflect pending transactions or other recent activity.

You can cancel your enrollment in Borrowell Bill Tracking at any time by unsubscribing within the App.  

OWNERSHIP / RESTRICTIONS ON USE

The Services are owned and operated by Borrowell. Any and all content, data, graphics, photographs, images, audio, video, software, systems, processes, trademarks, service marks, trade names and other information including, without limitation, the “look and feel” of the Website or App (collectively, the “Content”) contained in the Services are proprietary to Borrowell, its affiliates and/or third-party licensors. The Content is protected by Canadian, United States and international copyright and trademark laws.

Except as set forth herein, you may not modify, copy, reproduce, publish, post, transmit, distribute, display, perform, create derivative works from, transfer or sell any Content without the express prior written consent of Borrowell. You may download, print and reproduce the Content for your own non-commercial, informational purposes provided you agree to maintain any and all copyright or other proprietary notices contained in such Content, and to cite the URL source of such Content. Reproduction of multiple copies of the Content, in whole or in part, for resale or distribution is strictly prohibited except with the prior written permission of Borrowell. To obtain written consent for such reproduction, please contact us at [email protected].

DISCLAIMER/ LIMITATION OF LIABILITY

THE LAWS OF CERTAIN JURISDICTIONS, INCLUDING IN THE PROVINCE OF QUEBEC, DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LEGAL WARRANTIES, LIABILITY OR CERTAIN DAMAGES OR LIMITATIONS OF REPRESENTATIONS MADE CONCERNING GOODS OR SERVICES. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE BELOW EXCLUSIONS OR LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH CASE, EXCLUSIONS/LIMITATIONS WILL APPLY TO THE GREATEST EXTENT CONSISTENT WITH APPLICABLE LAW.

Although we strive to update and keep accurate as much as possible the Content contained in the Services, errors and/or omissions may occur and we cannot guarantee it is accurate and complete at all times. As noted above, through the Services you may receive predictions about your financial situation including, for example, predictions about your upcoming bills (each, a “Prediction”). You understand and acknowledge that each Prediction merely represents our attempt to predict the relevant facts regarding your Bank Account, that we do not guarantee the accuracy of any such Prediction. Except as expressly set forth herein any use of the Website, the App and the Services, and any decision of yours to act upon any Prediction is your sole responsibility.

ACCORDINGLY, TO THE FULLEST EXTENT PERMITTED BY LAW, THE WEBSITE AND APP, INCLUDING THE CONTENT, THIRD PARTY OFFERS AND SERVICES PROVIDED THEREIN (INCLUDING ANY THIRD PARTY BANK ACCOUNT VERIFICATION SERVICES), IS BEING PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED.  BORROWELL DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. BORROWELL DOES NOT WARRANT THAT THE FUNCTIONS ON THE WEBSITE OR THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. BORROWELL DOES NOT WARRANT, ENDORSE, GUARANTEE, PROVIDE ANY CONDITIONS OR REPRESENTATIONS, OR ASSUME ANY RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY ANY THIRD PARTY THROUGH THE WEBSITE AND APP OR IN RESPECT TO ANY WEBSITE THAT CAN BE REACHED FROM A LINK ON THE WEBSITE AND APP, AND BORROWELL SHALL NOT BE A PARTY TO ANY TRANSACTION THAT YOU MAY ENTER INTO WITH ANY SUCH THIRD PARTY.

IN NO EVENT SHALL BORROWELL, ITS AFFILIATES, MEMBERS, OFFICERS, EMPLOYEES, AGENTS AND LICENSORS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM OR IN CONNECTION WITH (1) YOUR USE OF, OR THE INABILITY TO USE, THE WEBSITE AND APP, ANY CONTENT OR SERVICES (INCLUDING THIRD PARTY OFFERS) OR (2) ERRORS, MISTAKES OR INACCURACIES IN THE MATERIALS ON THE WEBSITE AND APP OR PROVIDED BY THIRD PARTIES. THESE LIMITATIONS SHALL APPLY EVEN IF BORROWELL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

WE DO NOT WARRANT THE ACCURACY, COMPLETENESS, RELIABILITY OR CURRENCY OF ANY CONTENT.

INDEMNITY

You agree to indemnify and hold harmless Borrowell, its subsidiaries, affiliates, members, officers, employees, agents, and licensors from and against any and all losses, actions, proceedings, expenses, damages, claims, fines, penalties, costs and liabilities (including reasonable legal fees), resulting from your (or anyone acting under your password or username) use of the Services, connection thereto, or any alleged violation by you of these Terms of Use.

PRIVACY

Please review our Privacy Policy for information on the manner in which we collect, use, disclose and otherwise manage your personal information.

CHANGES AND TERMINATION

EXCEPT WHERE PROHIBITED BY LAW, INCLUDING THE PROVINCE OF QUEBEC, Borrowell reserves the right to modify or discontinue, temporarily or permanently, the Services (or any part thereof) at any time with or without notice. Further, Borrowell reserves the right to change these Terms of Use at any time and to notify you by posting an updated version of the Terms of Use on this Website.  You are responsible for regularly reviewing the Terms of Use. Continued use of the Website, App or Services after any such changes shall constitute your consent to be bound by such changes, with continued provision of the use of the Website constituting consideration from Borrowell to you for so being bound. Your only right with respect to any dissatisfaction with (1) these Terms of Use (2) any policy or practice of ours in operating the Website or App or (3) any Content available through the Website or App, is to stop visiting and using the Services and/or to close your account by contacting us.

APP UPDATES AND UPGRADES

You consent to receive updates or upgrades to the App automatically through the Internet without providing further consent each time. The App (including any updates or upgrades) may: (i) cause your device to automatically communicate with Borrowell’s servers to deliver the functionality described in the App description or through new features as they are introduced, and to record usage metrics; (ii) affect preferences or data stored on your device; and (iii) collect personal information as set out in our Privacy Policy. Borrowell is not responsible if an update or upgrade affects how the App works if this is caused by your own equipment or device not supporting the update or upgrade. You can withdraw consent at any time under certain conditions by contacting Borrowell.

TRADEMARKS

“Borrowell” is a trademark of Borrowell. Other marks, graphics, typefaces, trademarks and logos appearing in connection with the Services are trademarks or trade dress of Borrowell. All other trademarks appearing on the Services are property of their respective owners. Our trademarks and trade dress may not be used in any manner for any purpose without our express written consent.

APPLICABLE LAWS

EXCEPT IN THE PROVINCE OF QUEBEC, these Terms of Use shall be governed by and construed in accordance with the laws of the Province of Ontario, excluding conflicts of law provisions, and of the federal  laws of Canada applicable therein. In the event of any dispute or proceeding, you and Borrowell agree to attorn to the exclusive jurisdiction  of the Courts  in the City of Toronto, Ontario.  

SEVERABILITY

If any provision or portion of the Terms of Use is determined by a court of competent jurisdiction to be invalid, illegal, or for any reason unenforceable, then that provision will be given effect to the greatest extent possible and the invalidity or unenforceability of that provision  shall not affect the validity and enforceability of any remaining provisions of the Terms of Use. The failure of Borrowell to exercise or enforce any right or provision under these Terms of Use shall not constitute a waiver of such right or provision. Any waiver of any right or provision by Borrowell must be in writing and shall only apply to the specific instance identified in such writing. 

ENTIRE AGREEMENT

These Terms of Use (including the Privacy Policy and any Additional Terms) and any and all other legal notices or statements posted on the Website or App constitute the entire agreement between you and Borrowell with respect to the use of the Website or App, including the Content and Services. 

NOTICE

Notices to you may be made via e-mail or regular mail, or in cases of changes to these Terms of Use or to the services offered by the Website or App, by posting notices or links to such notices on the Website or App itself.

LANGUAGE

The parties hereto have expressly requested and required that these Terms of Use and all other related documents, including notices, be drawn up in the English language. Les parties aux présentes conviennent et exigent expressément que ce contrat et tous les documents qui s’y rapportent, y compris tout avis, soient rédigés en langue anglaise.

CONTACT

If you have any questions or comments regarding these Terms of Use, please contact us online or write to us at Borrowell Inc., 1 University Ave, 3rd Floor, Toronto, ON, M5J 2P1.

ADDITIONAL LICENSE TERMS

APPLE APP STORE ADDITIONAL LICENSE TERMS

If the App is provided to you through the Apple Inc. (Apple Inc. together with all of its affiliates, “Apple”) App Store, the following terms and conditions apply to you in addition to all the other terms and conditions of these Terms of Use:

  1. The parties acknowledge these Terms of Use are concluded between the parties, and not with Apple. The responsibility for the App and content thereof is governed by these Terms of Use.

  2. Notwithstanding anything to the contrary hereunder, you may use the App only on an iPhone or iPod touch that you own or control.

  3. You and we acknowledge that Apple has no obligation to furnish any maintenance or support services with respect to the App.

  4. In the event of any failure of the App to conform to any applicable warranty, you may notify Apple, and Apple will refund the purchase price for the App (if any) to you. Except for the foregoing, to the maximum extent permitted by applicable law, Apple will have no other warranty obligation whatsoever with respect to the App, and any other claims, losses, liabilities, damages, costs or expenses attributable to any failure to conform to any warranty will be governed by these Terms of Use.

  5. Any claim in connection with the App related to product liability, a failure to conform to applicable legal or regulatory requirements, or claims under consumer protection or similar legislation is governed by these Terms of Use, and Apple is not responsible for such claim.

  6. Any third party claim that the App or your possession and use of the App infringes that third party’s intellectual property rights will be governed by these Terms of Use, and Apple will not be responsible for the investigation, defense, settlement and discharge of such intellectual property infringement claim.

  7. You represent and warrant that you are not: (i) located in any country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country; or (ii) listed on any U.S. Government list of prohibited or restricted parties.

  8. You may contact us in writing regarding any notices, questions, complaints or claims with respect to the App: Borrowell Inc. 1 University Ave, 3rd Floor, Toronto, ON, M5J 2P1. Email: [email protected].

  9. Apple is a third party beneficiary to these Terms of Use and may enforce these Terms of Use against you.

  10. If any of the terms and conditions in these Terms of Use are inconsistent or in conflict with Apple’s applicable instructions for Minimum Terms for Developer’s End User License Agreement (the current version as of the date these Terms of Use was last updated is located at: http://www.apple.com/legal/internet-services/itunes/appstore/dev/minterms/) or the App Store Terms of Service (the current version as of the date these Terms of Use was last updated is located at: http://www.apple.com/legal/internet-services/itunes/ca/terms.html), the terms and conditions of Apple’s instructions for Minimum Terms for Developer’s End User License Agreement or App Store Terms of Service, as applicable, will apply to the extent of such inconsistency or conflict.

GOOGLE PLAY ADDITIONAL LICENSE TERMS

If the App is provided to you through the Google Inc. (Google Inc. together with all of its affiliates, “Google”) Google Play, the following terms and conditions apply to you in addition to all the other terms and conditions of these Terms of Use:

  1. You acknowledge that Google is not responsible for providing support services for the App.

  2. If any of the terms and conditions in these Terms of Use are inconsistent or in conflict with the Google Play Developer Distribution Agreement (the current version as of the date these Terms of Use was last updated is located at https://play.google.com/about/developer-distribution-agreement.html), the terms and conditions of Google’s Google Play Developer Distribution Agreement will apply to the extent of such inconsistency or conflict.

Last Updated: May 18, 2022