These terms and conditions govern the use of the ULite Corporate Lease to Buy Program.
We will use these terms interchangeably in these terms and conditions and the meaning remains the same.
- “ULite”/ “ULite Corporate” and “We”/” Us”/”Our” in representing ULite.
- “Customer”/ “Organization”/ “Company”/ “you” interchangeably in representing you as the customer.
- “Lease to Buy Program”/ “ULite Corporate Lease to Buy Program”/ “Program” in representing the lease to buy program.
- “Products”/ “Device”/ “Equipment” interchangeably in representing the Lease to buy program.
- “Authorised Person” means your employee who is authorized by you to access, handle, manage and place orders for products under your corporate account with ULite Corporate Lease-to-buy Program.
- “Approval Person” in representing an individual who has been legally authorized by you and has the legal authority or responsibility to oversee, review, approve, and sign off on financial applications or transactions on behalf of your organization.
1. Eligibility
1.1. ULite Corporate Lease to Buy Program is open to all SME and Project– based companies registered in Myanmar and onboarded by ULite. The organization must not be on the relevant sanction list and must provide the required company- related documents requested by ULite from time to time.
1.2. ULite reserves the right to modify eligibility criteria at its sole discretion.
2. Registration
2.1. An organization must be registered with ULite Corporate and must be onboarded by ULite Corporate by providing the required information and supporting documents as requested by ULite from time to time.
2.2. ULite reserves the right to reject your membership application at its sole discretion.
2.3. Even after an organization has been approved to become a ULite member, ULite can revoke the membership rights at any time at its sole discretion.
3. Membership
3.1. Your ULite membership is not a right and we reserve the right to revoke it at any time at our sole discretion.
3.2. You may use your ULite corporate account to apply for lease to buy products available on ULite. Your application will be subject to assessment and approval by ULite at its sole discretion.
3.3 ULite Corporate account is only available to the Authorised Persons listed under your organization’s account and must not be shared with anyone outside this list.
3.4 An organization can appoint (i) up to a maximum of five (5) Authorised Persons; and (ii) two (2) Approval Person under its corporate account on ULite Corporate. It is your responsibility to update the Authorised Person list and Approval Person list under your corporate account from time to time. If any of your Authorised Person and/or Approval Person is no longer employed at your organization or is no longer authorized, the organization must inform ULite Corporate promptly to deactivate such Authorised Person and/or Approval Person.
3.5. It is your sole responsibility and liability to review and verify your Authorised Person and Approval Person list under your corporate account from time to time. We are not liable for any misuse, fraud or unauthorized actions committed by your Authorised Person and/or Approval Person under any circumstances. You agree to indemnify and hold us harmless from any claims, losses, damages, or expenses arising from such acts or omissions of your Authorised Person and/or Approval Person.
3.6. Under corporate accounts, whenever your member submits a lease-to-buy order application form, your Approval Person must approve or reject the order application request. It is the responsibility of your Approval Person to check and verify your order applications. The organization must inform ULite Corporate, if there are any changes to the Approval Person list.
3.7. By applying for a corporate organization account on ULite Corporate, the organization takes full responsibility for all outstanding payments due on all approved applications under its corporate account.
4. Application Process
4.1. To apply for the Lease to Buy Program, the company must complete the registration process and online application accurately by providing all required information and supporting documents. The organization, its Authorised Person and Approval Person are responsible for the authenticity of documents provided to ULite Corporate.
4.2. ULite reserves the right to reject any application for any reason, including incomplete information or insufficient creditworthiness.
4.3. Our Merchant may not be able to process your application due to stock unavailability, we will notify you and provide information on alternative products that is similar to the product that you applied for. If you do not wish to accept the alternative product or if the Merchant is unable to offer the alternative product, we will refund you the administrative fees and deposit paid (if any). You agree that we are not responsible for any acts, omissions or delays of the Merchant in processing your application. You acknowledge that the availability of the Product or alternative devices are not within our responsibilities and control, and you shall have no right to compel us to provide the originally requested Product or the alternative device.
4.4 You acknowledge that the warranty for the products (if any) are provided by the Merchant, and any issues regarding warranty for the products are the sole responsibility of the Merchant and should be directly referred to the Merchant.
4.5 ULite makes no representations or warranties, express or implied, regarding the fitness of the products for any particular purpose. It is your sole responsibility to determine whether the products meet your specific needs or requirements or intended use.
5. Lease to buy Options
5.1. ULite Corporate Lease to Buy Program offers flexible lease to buy options with different down payment and payment options. We reserve the right to change such options at our sole discretion without prior notice. However, we shall not apply any retrospective change or update to any ongoing and active lease to buy programs under your account.
5.2. Customers may choose from available lease to buy plans during the application process.
5.3. The products available on ULite Corporate lease to buy programs are selected by ULite exclusively. ULite reserves the right to update and change the product offerings at any time without prior notice.
6.Monthly Payment Terms
6.1. Customers agree to repay the monthly payment amount in accordance with the selected lease to buy plan.
6.2. You agree that late payments will result in additional fees, penalties, the loss of the functionality of the device, public announcements, and potential reporting to the relevant authorities or any other actions that ULite may take from time to time.
7. Monthly Payment
7.1. The monthly payment will be communicated to customers during the application process.
7.2. The monthly payment may vary based on factors such as creditworthiness, the chosen payment plan and any other requirements as may be determined by ULite at its sole discretion.
7.3. The monthly payment is determined by ULite, and the Customer agrees that he/she cannot and will not dispute or request to change the monthly payment determined by ULite.
8. Billing and Statements
8.1. Customers will receive regular billing statements outlining outstanding balances, due dates, any applicable charges and any other applicable notifications via the ULite website, SMS or email.
8.2. Customers are responsible for reviewing statements for accuracy and reporting any discrepancies to ULite within seven (7) days of the billing statement date.
8.3. The customer is required to pay the monthly payment in accordance with the lease to buy agreement, regardless of whether a billing statement has been received.
9. Late Payments
9.1. In the event of late payment, you will be responsible for paying a late fee based on the number of days in default. These late fees are subject to change periodically. Late payments may result in late fees, increased interest rates, credit review and credit decision of the next credit limit, remote deactivation of the functionality of the lease to buy device and negative effects on your credit score.
9.2. ULite reserves the right to initiate recovery actions for overdue accounts.
9.3. You agree that we may publicly announce your late payment in the social media network and/or public newspaper.
9.4. You agree that we may report you to the relevant authorities to facilitate the repossession and recovery of our product.
10. Early Repayment
10.1 Customers may make early repayment without incurring additional charges.
10.2. Early repayment does not entitle customers to a reduction to the total monthly payments due.
10.3. ULite does not refund administrative fees for early repayment.
11. Right of withdrawal
11.1. You may withdraw or request the deletion of your ULite account via hello@ulite.com.mm
11.2. You may withdraw from your ULite lease to buy program before you collect the product from our merchant.
11.3. Once you have collected the product, your lease to buy program is activated and you cannot withdraw for any reason. In case of device factory default, our Merchant shall provide services within the guaranteed timeframe.
11.4. We reserve the right to reject your withdrawal if you have an active lease to buy program with us and/or if your account has outstanding payments.
11.5. In case of withdrawal after the order has been processed, your administrative fee shall not be funded but your down payment will be refunded.
12. Product Ownership
12.1. Both of you and your guarantor acknowledge that the lease-to-buy device remains the property of ULite until the final monthly repayment and residual amount of MMK100 and any other outstanding amount including late payment fees are paid.
12.2. ULite reserves the right to recover and repossess the device in the event of late payment or missed repayment.
12.3. A customer is not authorized to sub-lease the product(s)/device(s) by ULite without ULite’s written consent. In case of a customer sub-leasing it, ULite will take any available action to recover and repossess the product/device and terminate the agreement.
13. Termination and Default
13.1. ULite may terminate the lease to buy agreement in the event of default, including non-payment. Providing false or misleading information, or any breach of the terms outlined in these terms and conditions and the lease to buy agreement with the Customer.
13.2. Upon termination, ULite may take any actions including legal action to recover outstanding monthly repayment amounts and deactivate the functionality of the device remotely if the lease to buy product is Samsung Knox-enabled devices.
13.3. If we suspect unauthorized or fraudulent activities on your account, we are entitled to terminate your account immediately and you are legally liable to pay all outstanding monthly payments due on your account in full immediately.
13.4. We reserve the right to suspend and/or terminate your account at our sole discretion.
14. Privacy and Security
14.1. ULite will handle customer information in accordance with applicable privacy laws.
14.2. When you apply for the ULite membership, you give your consent to us in sending electronic communications to the e-mail address or telephone number you have provided. You agree that we may send you ULite account information, lease to buy program information, monthly statements, notices and other communications under or in relation to the terms and conditions and the lease to buy agreement (other than communications that are required by law to be sent in paper form) via email or text message to the email address and phone number(s) provided by you.
14.3. You must promptly inform us of the any changes to your name, address, email, telephone number. You must provide any evidence of such changes that we may reasonably require.
14.4. All communications between you and us in relation to these terms and conditions and the lease to buy agreement shall be both in English and Burmese. In the event of any discrepancies or inconsistencies between the English version and the Burmese version, the English version shall prevail and be deemed authoritative.
15. Use of your personal data
15.1. ULite processes your personal data to carry out our obligations in these terms and conditions and the lease to buy agreement. We may share and verify your information with your organization, our partners, merchants, and other financial institutions to provide our services to you.
15.2. We process your personal data to identify you and perform customer analysis, credit assessments, marketing, and business development.
15.3. We may also transfer your personal data to selected partners in processing your service requests, legal authorities in case of late repayments and default and other relevant parties and authorities in providing services.
16. Amendments to Terms
16.1. ULite reserves the right to amend these terms and conditions at its sole discretion at any time without advance notice to customers.
16.2 Continued participation in the ULite Corporate Lease to Buy Program after notification constitutes acceptance of the amended terms and conditions.
17. Complaints
17.1. If for some reason you are dissatisfied with our services, please inform us via email at hello@ulite.com.mm and we will do our best to resolve the matter as soon as possible.
18. Assignment
18.1. You may not transfer or assign any rights or obligations you have under these terms and conditions and the lease to buy agreement without our prior written consent. We have the right to transfer or assign this agreement or any right or obligation under these terms and conditions and lease to buy agreement to your detriment.
19. Governing Law
19.1. This agreement is governed by the laws of the Republic of the Union of Myanmar.
19.2. Any disputes arising from or relating to this Agreement will be resolved through arbitration administered by Myanmar Arbitration Centre in accordance with the laws of the Republic of the Union of Myanmar.
20. General
20.1. Any provision of these terms and conditions and the lease to buy agreement which expressly or by implication is intended to come into or continue in force on or after termination of this agreement shall remain in full force and effect.
20.2. These terms and conditions and the lease to buy agreement do not affect or exclude any term implied by law unless it expressly says so.
20.3. If any term in these terms and conditions and the lease to buy agreement is found to be unenforceable, , it will not affect the enforceability of the remaining terms and conditions.
By participating in the Program, customers agree to abide by these terms and conditions and the lease to buy agreement. ULite reserves the right to take appropriate legal action against customers who violate the terms outlined herein and the lease to buy agreement.