1. The Applicant confirms that the Paras Education Services( PES) and / or its associated entity Indo American Education Services [IAES] has agreed to be his/her facilitator, counsellor and financial consultant on the basis of the representations contained in, and believing it to be true, the documents provided by the Applicant and the Co-signer to PES. If any of the representations or any documents provided by the Applicant is found to be false, forged or fabricated the agency hereby created shall be voidable at the option of PES and PES shall not be bound to act for the Applicant.

2. The Applicant accepts that TPEF’s role is to counsel the Applicant on the procedure of applying, pursuing and availing the loan by fulfilling requisites of the Overseas / International financial Institution / Organizations / NGOs. TPEF is not responsible for sanctioning or rejection of loan in full or part. TPEF is neither a lender nor a lending institution.

3. The Applicant is aware that his/her co-signer’s credit will be checked with one or more leading credit bureau to ascertain that he meets minimum score for being a co-signer of the loan application. The co-signor shall be co-borrower / co-applicant in the loan application and will be required to sign all documents. The co-signer / co-borrower / co-applicant shall be equally liable to repay the loan if the Applicant defaults in payment. The Applicant is aware and has informed his/her co-signer, that PES may apply for the loan with up to two lenders.

4. The Applicant is hereby made aware that loans to be advanced are credit-based loans, relying on the excellent credit rating of the U.S co-signor. No tangible security/mortgage or margin money either from U.S. co-signor or from the Applicant and his / her family is required. Satisfactory, adequate and sufficient credit rating/credit history of the co-signor is therefore extremely necessary. Loan sanction is based on creditworthiness and not only on income levels. Final loan sanction is dependent on satisfactory, acceptable credit history as well as on proper, latest and appropriate documents of the Applicant and of the co-signor.

5. PES will urge the overseas lenders to grant the educational loan to the Applicant. The Applicant understands that advancing educational loan is a prerogative of the Lenders and TPEF does not indulge in any undue influence or coercion or misrepresentation. However, TPEF makes all endeavors to positively plead the case of the Applicant. TPEF will not be responsible for the rejection of the loan and the Applicant shall not be entitled to claim any loss or compensation on account of rejection of the loan or otherwise howsoever. TPEF has not guaranteed any sanction or disbursement of the educational loan by the Lenders.

6. It shall be a responsibility of the Applicant to provide complete information and documents in all respect about himself/herself and that of the Co-signer / co-borrower / co-Applicant as requisitioned by TPEF initially or from time to time with due dispatch. The Applicant shall adhere to the steps for the processing of the loan as explained by the counselors of TPEF. TPEF shall not be responsible for any delay caused due to incomplete or delayed or non-receipt of the information and/or documents from the Applicant.

7. The Applicant accepts that in case of rejection of loan, the co-signor will follow up and co-operate as instructed by the Student Banking Officer or Credit Officer of TPEF. The Applicant will contact Fairmark Services for all queries/information related to the repayment of the loan.

8. The Applicant is made aware and accepts that the reason for loan rejection will be communicated to the co-signor / co-applicant only due to the US Privacy laws and also in accordance with Privacy Policy of TPEF. The Applicant will correspond, in this regard, with the co-signor / co-applicant.

9. The lenders will mail the loan amount cheque directly to the University / College / Institution by regular US-Mail. The Applicant may, if he/she so desire, pay courier charges to TPEF and request the cheque to be sent by courier.

10. The loans are normally advanced at the prevailing Libor interest rate or Wall Street Prime Lending rate + relevant guarantee/origination fee as and if applicable between 0 to 5.25%. The rate of interest is, however, subject to change without notice. In the event, the Applicant withdraws the application for any reason including on account of change in the rate of interest, the consultancy fee and processing fees shall nevertheless be payable by the Applicant and will not be refunded.

11. The Applicant is hereby made aware that there is pre-approval stage, promissory note stage, final approval stage, certification stage by the Applicant’s University / School / College / Institute and disbursement Schedule stage in the loan application procedure and TPEF may provide the Applicant with online pre-application or paper pre-application forms. Once the pre-application is received by the respective lending institution, a promissory note will be generated upon the successful approval and acceptance of the said pre-application. The entire procedure takes about 6 to 8 weeks or more depending on the co-operation of the Applicant, the co-signor and the School to which the Applicant has applied for admission for necessary paperwork, documentation and School Certification. The Applicant undertakes to execute the promissory note and cause the same to be executed by the co-signer, the co-borrower, and the co-applicant.

12. The Applicant hereby consents and authorizes TPEF and their associates to create new e-mail is for the Applicant as well for the co-signor exclusively for the loan purpose and to process the loan application and submit online to lenders for the loan for the applied University / College / School.

13. The Applicant is aware that the loan application is for one financial/academic year only and that the Applicant will have to re-apply for the loan for the next year.

14. The Applicant agrees to pay/has paid to TPEF consultancy and processing fees for the services agreed to be provided hereunder and are not towards any application forms. The Applicant shall not be entitled to claim any set off for any reasons whatsoever.

15. All consultancy and processing fees paid to TPEF are non-refundable under any and all circumstances which include, but is not limited to – i. rejection of loan due to co-signer’s credit history, credit rating at any or all credit bureau of his country of citizenship; ii. withdrawal of the loan application by the Applicant for any reason whatsoever; iii. Co-signer and/or co-borrower not willing to produce any or all documents required by the lending institution based on his residency and nature of business/employment; iv. the Applicant abandoning his/her plan to pursue education or the loan;

16 The Applicant is and will keep Co-signer aware of, the policy of TPEF to keep all information and documents provided by them confidential and use it for the purpose for which the same has been supplied. However, TPEF does not take responsibility, and the Applicant and the Co-signer agree not to hold TPEF responsible, for misuse of the information and documents.

17. The Applicant has read, understood and agreed to the Frequently Asked Questions and Legal Disclaimer as published on the TPEF website (www.isloan.org).

18. This Form including the terms and conditions whether signed in person in Mumbai or signed outside Mumbai and sent to TPEF through post or electronic mode shall be deemed to have been signed in person and in Mumbai. All disputes in relation to this contract shall be subject to the jurisdiction of Courts in Mumbai.

19. The Applicant confirms that TPEF has agreed to act for the Applicant on his/her acceptance of the foregoing terms and conditions.The Applicant accepts that PES’s role is to counsel the Applicant on the procedure of applying, pursuing and availing the loan by fulfilling requisites of the Overseas / International financial Institution / Organizations / NGOs. PES is not responsible for sanctioning or rejection of loan in full or part. PES is neither a lender nor a lending institution.