First Circle Account Terms & Conditions

Last updated on Feb. 11, 2020


  1. Please read this First Circle Account Terms and Conditions (including any updates, changes, or supplements hereto) before submitting each financing application with First Circle Growth Finance Corp., its parent company, subsidiaries, and affiliates (“First Circle”, also referred to in this document using the pronouns “we”, “us”, and “our”).
  1. We may change or update this page and it is your responsibility to carefully read these updates. Unless otherwise provided, changes are effective immediately beginning on the posting date above.
  1. This First Circle Account Terms and Conditions shall be governed in all respects by the laws of the Republic of the Philippines. It shall be read together with and is an integral part of any definitive legal agreement(s) that you execute with First Circle.

General Provisions

  1. To apply for financing with us for the first time, a person (the “Account User” or “you”) will have to create an account (your “Account”) on our online platform, or any other iteration thereof (the “Platform”). Creating and maintaining an account with us is free of charge.
  1. You will be asked to provide basic personal information as well as some information about business entity that you represent (i.e. sole proprietorship, traditional corporation, one person corporation, partnership, cooperative, and others) (your “Company”), to verify your and your Company’s identity upon Account creation.
  1. Each Account will pertain to a specific Company, not a specific Account User. If you own or co-own more than one Company that wishes to apply for financing with First Circle, you will have to create a separate Account for each Company.
  1. You expressly allow First Circle to share such relevant portion of your information (both personal and corporate) to our third-party partners, vendors, suppliers, consultants or contractors (collectively, “Service Providers”) on a need-to-know, strictly confidential basis. For example, we may engage third parties to perform data analytics, direct marketing, credit investigation or debt recovery activities on our behalf. These Service Providers will necessarily need access to such portion of your information to enable them to perform their duties effectively.
  1. You also allow First Circle to share information about you or information submitted through your Account among any of its member-entities, if required by the exigencies of business.
  1. You allow First Circle to record, monitor, and transcribe all conversations (through landline, mobile phone, live chat, messaging application, electronic mail, face-to-face, and others) made between you and any First Circle employee, representative, consultant, agent, advisor or Service Provider for security and quality assurance purposes or to protect First Circle’s interests in relation to the Platform.
  1. All trademarks, copyrightable materials, layout, graphics, code, application, and software (collectively, “Proprietary Property”) on or associated with the Platform are owned by or licensed to First Circle. The Account User shall have no right or interest to the Platform and to any Proprietary Property other than as set forth herein.

Applying for Financing

  1. All financing applications with First Circle are submitted and processed through the Platform. When you log on to the Platform using your Account and perform actions on behalf of your Company, you warrant that you have the right and authority to do the following in respect of transactions between your Company and First Circle:
  1. Act for and bind the Company under a definitive legal agreement with First Circle.
  2. Disclose, share, submit, and upload papers, documents, and information (both personal and corporate in nature) pertaining to (i) yourself, (ii) your Company, (iii) the shareholders, directors, officers, trustees, employees, and agents engaged by your Company, and (iv) third-party business entities transacting with your Company (your “Trading Partner”), such as your suppliers, vendors, buyers, and customers.
  3. Review and accept the First Circle Account Terms and Conditions applicable in force at the time of your specific financing application.
  4. Perform any other act on behalf of the Company.
  1. Each financing application pertains to a single transaction with a specific Trading Partner. The application must be supported by documents that will enable First Circle to offer the most suitable financing option for that particular transaction, which includes, among others:
  1. Your personal identification documents;
  2. Your Company’s corporate registration documents;
  3. The trade document to be financed;
  4. The underlying contract for the trade;
  5. Your Trading Partner; and
  6. Other relevant information about you gathered in the course of First Circle’s application’s review, including those sourced from its Service Providers, where relevant (collectively, your “Application Documents”).
  1. You can simultaneously submit as many financing applications as you want, but First Circle does not guarantee that every application will be approved. The actual amount and the terms of the financing offer(s) extended to your Company, if any, will depend on several factors, such as but not limited to:
  1. Your Company’s actual financing requirement for a specific transaction;
  2. Your Company’s previous financings with us;
  3. Your Company’s ability to repay us;
  4. Your Company’s available First Circle credit limit;
  5. Your Company’s outstanding financing obligations with us, if any;
  6. Your Company’s Trading Partner;
  7. The successful, complete review of each set of Application Documents;
  8. The execution and delivery of the appropriate legal documents covering the financing offer;
  9. Our credit policy at the time of each application; and
  10. Applicable laws and regulations.
  1. You are encouraged to submit the Application Documents on your own by logging into your Account and uploading these via the Platform. Alternatively, you can enlist the help of our employees or accredited agents (collectively, “Representatives”) to assist you.
  1. You allow First Circle to, in its absolute and sole discretion, use automated systems to collect and process your Application Documents, including but not limited to running a credit check on you and/or your Company, deciding on your financing application, generating a credit limit for you, and providing indicative terms for each financing offer.

Application Review and Approval/Rejection

  1. You understand that when you apply for financing with us, we may need you to provide the name and contact information (landline, email, and/or mobile phone) of at least one (1) person employed by or affiliated with your Trading Partner (the “Verifying Party”).
  1. You expressly give First Circle—through a Representative and/or Service Provider—your consent to contact you and/or the Verifying Party to learn more about your transaction with your Trading Partner, provided that such contact is made through First Circle’s official communication channels and conducted during business hours. First Circle may, in its sole discretion, accommodate special requests for getting in touch with your Verifying Party, but only if said request does not breach our policy or applicable laws.
  1. Our ability to decide on your financing application (as well as any request for extension of payment you make) depends in large part on your and your Trading Partner’s cooperation with us. You shall secure your Trading Partner’s consent to cooperate with First Circle for complete and timely answers regarding your transaction.
  1. You accept that if First Circle is unable to reach out to your Trading Partner or to any other party with material knowledge about your Application Documents, First Circle may deny your financing application for failure to finish our review process.
  1. If your financing application is approved, the amount of the financing offer extended to you for such application will be taken from your available credit limit. If you have several pending applications and some or all of them are approved simultaneously, you may see a proportionate reduction of your available credit limit on the Platform until you reject any offer.

Ensuring the security of your Account

  1. First Circle employs back-end measures to safeguard your Account against external attacks, but you are personally responsible for ensuring that your username, password, or one-time PIN stay secret so that no unauthorised activities or communications are made through your Account.
  1. You accept that First Circle is not obliged to verify the identity of the person/s using your Account, and that we can consider every activity on your Account to be made by you unless we are informed otherwise.
  1. You understand that anyone who accesses the Platform through your Account may perform actions that could make you and/or your Company liable under binding legal agreements with First Circle, making it even more important for you to keep your Account secure at all times. These actions include, but are not limited to:
  1. Changing your username, password, and other Account information;
  2. Applying for First Circle financing in your Company’s name;
  3. Submitting financing application requirements, including trade documents, personal identification cards, business registration documents, and others;
  4. Tracking the progress of your Company’s pending application/s;
  5. Monitoring your Company’s financing obligation/s to First Circle;
  6. Reviewing and accepting or rejecting the terms of a financing offer by First Circle;
  7. Executing a binding and definitive financing contract with First Circle using your digital signature;
  8. Other actions as may allowed on the Platform in the future.
  1. In case you suspect that your Account has been compromised in any way, you shall immediately provide a detailed report to First Circle to prevent further unauthorised use or access. However, certain activities and actions made through your Account (such as those listed in the immediately preceding section) prior to your notice to First Circle may no longer be reversed or rectified.

Confidentiality of information

  1. First Circle takes steps to ensure that the data you share with us is processed only for the purposes and shared only with the parties you have specifically consented to. If you want to know more about how we use your personal information, read our Privacy Policy here.
  1. You may request to have your Account closed or to have any associated information about you modified or deleted (subject to existing data retention laws) by sending us a message on
  1. Unless otherwise agreed with First Circle, the termination of your Account shall not cause the corresponding termination, reduction or cancellation of any outstanding liability or obligation you may have towards First Circle (and vice versa).
  1. You may ask First Circle at any time for confirmation on whether we are processing your information, the purposes we are processing it for, and the persons or entities who may have access to your information. Complying with your request (especially producing a digitally portable version of your processed data) may be subject to data review and reproduction costs. Please send us a request through for this purpose.


  1. You agree that any document or information you provide to us is current, complete, true, and accurate based on your own personal knowledge and/or based on authentic documents, and that we may rely on the same to decide on each financing application you submit. You warrant that any documents you forward to us are not covered by any confidentiality or privacy restriction that extends to us without our consent.
  1. You understand that any financing extended by First Circle shall not cause First Circle and/or any Representative:
  1. To be liable with you or any other party in relation to your transaction with your Trading Partner;
  2. To replace you as the party responsible for performing your obligations toward your Trading Partner or any other party; and
  3. To do anything other than disburse the financing amount offered to and accepted by you as regards a transaction
  1. You accept that each financing application, once verified and approved, shall be subject to terms and conditions specific to that approved application. One application may have terms completely different from another.
  1. The terms and conditions of any specific financing officer will be contained in a definitive legal agreement to be signed between you and First Circle. You are fully responsible for reading through these terms and conditions, securing your Company’s consent to be bound thereunder, and executing and delivering the necessary legal documentation for it.
  1. You shall indemnify, defend, and hold harmless First Circle and its Related Parties against any liability, proceeding, inquiry, loss, risk, cost, tax, charge, penalty or damages arising out of or related to -
  1. The theft, management, misuse of or unauthorized access to your Account;
  2. Your Company’s application for First Circle financing;
  3. Your submission of any documents or information to us;
  4. Your use of the First Circle Website and Platform; or
  5. For First Circle’s conduct of its application review process, management and operation of the Platform, and implementation of its credit policy in accordance with relevant laws and regulations.
  1. First Circle reserves the right to suspend or terminate access to an Account that is suspected of being involved in or used for criminal, fraudulent, unauthorized or highly irregular activities, without prior notice or any liability to you. The suspension may continue until we have confirmed the true nature of these activities.

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