Terms of Service

By using KorLoans, you agree to these Terms of Service. Please read them carefully.

1. Acceptance of Terms

By accessing or using KorLoans ("the Service"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you may not use the Service.

You must be at least 18 years old to use this Service. By using KorLoans, you represent that you are 18 or older.

2. Description of Service

KorLoans is a FREE personal loan tracking tool. It helps you:

• Track loans between friends and family
• Record payments and disbursements
• Manage borrower information
• Access loan history and balances
• Use one account for both lending and borrowing

3. User Accounts

3.1 Account Creation

To use the Service, you must:

• Provide accurate and complete information
• Maintain the security of your password
• Create only one account per person
• Notify us immediately of any unauthorized access

3.2 Account Security

You are responsible for:

• Maintaining the confidentiality of your password
• All activities that occur under your account
• Notifying us of any security breach

4. Acceptable Use

Permitted Uses:

• Track personal loans between individuals
• Manage multiple loans as a lender or borrower
• Send and receive portal invitations

Prohibited Uses:

• Commercial lending operations or business use
• Illegal activities or money laundering
• Harassment, abuse, or threats toward other users
• Unauthorized access to other users' accounts
• Spamming or mass solicitations
• Misrepresenting loan information
• Violating any laws or regulations
• Reverse engineering or copying the Service

5. User Content and Data

5.1 Your Data

• You own your loan tracking data - All loan information you enter belongs to you
• You are responsible for accuracy - We do not verify loan information
• You grant us a license - To store, display, and process your data to provide the Service

5.2 Data Accuracy

We are NOT responsible for:

• Inaccurate data you enter
• Disputes arising from incorrect records
• Verification of loan agreements
• Mathematical errors in calculations you make

6. Intellectual Property

• The KorLoans platform, code, and design are our property
• You may not copy, modify, or reverse engineer the Service
• You retain ownership of your loan tracking data
• Our name, logo, and trademarks may not be used without permission

7. Disclaimers

7.1 Service "AS IS"

The Service is provided "AS IS" and "AS AVAILABLE" without warranties of any kind, express or implied, including but not limited to:

• Warranties of merchantability or fitness for a particular purpose
• Guarantees of error-free or uninterrupted operation
• Guarantees of accuracy or reliability
• Warranties that the Service will meet your requirements

7.2 Not Legal or Financial Advice

• We do not provide legal advice about loan agreements
• We do not provide financial advice or recommendations
• Consult qualified professionals for legal or financial matters

7.3 Loan Agreements

• You are responsible for your own loan agreements
• We are not a party to any loan agreements between users
• We do not enforce or validate loan terms
• We do not resolve disputes between lenders and borrowers

8. Limitation of Liability

We Are NOT Liable For:

• Loan disputes or defaults - We are not responsible for borrowers who do not repay
• Data loss - Though we take precautions, we cannot guarantee against all data loss
• Lost profits or business - Any indirect, incidental, or consequential damages
• Actions of other users - We are not responsible for other users' conduct
• Third-party services - External websites or services linked from our platform
• Service interruptions - Downtime, maintenance, or technical issues

9. Indemnification

You agree to indemnify and hold harmless KorLoans, its officers, directors, employees, and agents from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:

• Your use of the Service
• Your violation of these Terms
• Your violation of any laws or regulations
• Your loan agreements or disputes with other users
• Any data or content you submit to the Service

10. Service Modifications

We reserve the right to:

• Modify or discontinue features (with reasonable notice)
• Update the Service for improvements or bug fixes
• Change these Terms (with notice to users)
• Add or remove functionality

We will provide reasonable notice of material changes that affect your use of the Service.

11. Termination

By You:

• You may delete your account at any time via your profile settings
• Your data will be permanently deleted within 30 days

By Us:

We may suspend or terminate accounts for:

• Violation of these Terms
• Illegal activity or fraud
• Abuse, harassment, or threats
• Prolonged inactivity (we will notify you first)

12. Governing Law

These Terms are governed by and construed in accordance with the laws of the United States, without regard to conflict of law principles. Any disputes arising from these Terms or your use of the Service will be resolved through binding arbitration, except where prohibited by law.

13. Severability

If any provision of these Terms is found to be unenforceable or invalid, the remaining provisions will continue in full force and effect.

14. Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and KorLoans regarding your use of the Service.

15. Contact Us

If you have questions about these Terms, please contact us at support@korloans.com

16. Acknowledgment

By creating an account or using KorLoans, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.