Terms and Conditions for Gullak & Free Rent Amount

1. Program Overview and Eligibility

1.1 The RentenPe Gullak Rewards Program ("Program") is designed to reward users for their engagement and consistent use of the RentenPe platform.

1.2 Participation in the Program is available to all registered RentenPe users with active accounts in good standing.

1.3 The Program allows users to earn and accumulate Coins and Gems through various engagement activities, which can be redeemed for benefits during rent payments.

2. Reward Accrual and Currency

2.1 Users may earn Coins/Gems by successfully completing designated tasks and activities as listed in the Rewards section of the RentenPe application.

2.2 The conversion rate for Points to Coins is fixed at 10 Points equals 1 Coin, unless otherwise specified by RentenPe.

2.3 Gems are a separate reward currency that can be earned through special activities or achievements as determined by RentenPe.

2.4 RentenPe reserves the right to adjust the earning criteria, conversion rates, and reward values at any time without prior notice.

3. Reward Redemption

3.1 To redeem accumulated Coins, users must utilize the "Break the Gullak" feature within the application, which will transfer the Coins to the user's RentenPe Wallet.

3.2 Wallet balances can be applied toward rent payments by selecting the "Use Wallet Balance" option during the payment process.

3.3 Gems can be utilized to access scratch cards and other special promotional offerings as available within the application.

3.4 All redemption transactions are final and non-reversible once processed.

3.5 RentenPe reserves the right to delay or deny redemption requests if fraudulent activity is suspected.

4. Free Rent Amount (FRA)

The Free Rent Amount (“FRA”) is a promotional benefit offered by RentenPe. Eligibility and redemption of the FRA are governed by the following terms and conditions:

4.1 Consecutive Timely Rent Payments

Users become eligible to redeem the Free Rent Amount after completing eleven (11) consecutive timely full rent payments through the RentenPe platform.

A “timely full rent payment” is defined as payment of full amount of rent on or before the rent due date specified in the user's verified rent agreement.

4.2 Landlord Registration Requirement

For clarity, the FRA redemption date corresponds to the due date of the user's 12th month's rent.

In case the landlord is not registered on the RentenPe application at least one (1) month prior to the FRA redemption date, the user shall still be eligible for FRA; however, the balance free rent amount shall be reduced by 50%.

4.3 Impact of Inconsistent Rent Payments

Any delayed, missed, incomplete, or partial rent payment during the 11-month FRA period will result in a proportionate reduction of the user's balance FRA amount.

4.4 Service Subscription Requirement

During the FRA qualification period (eleven months), users must subscribe to at least one RentenPe service to remain eligible for FRA redemption.

4.5 Referral Requirement

During the FRA period, users must invite new users to the RentenPe platform. A referral will be considered valid only if the referred user completes a rent payment through the RentenPe platform.

Users are required to complete a minimum of two (2) successful referrals before the FRA redemption month.

• If no successful referral is completed before the FRA redemption month, the balance free rent amount shall be reduced by 10%.
• If only one (1) successful referral is completed before the FRA redemption month, the reduction shall be limited to 5%.

4.6 KYC Completion Requirement

Users must complete their KYC verification within the eleven-month FRA period to qualify for final redemption.

4.7 Agreement Renewal Requirement

If the verified rent agreement expires before the FRA redemption date, users must renew and upload the new agreement within a maximum of 15 days to retain eligibility.

4.8 Value Determination and Redemption Terms

The value, structure, and redemption terms of the Free Rent Amount are determined solely by RentenPe and may vary based on user status, promotional conditions, or internal policy decisions.

4.9 Policy Rights Reserved by RentenPe

RentenPe reserves the exclusive right to modify, amend, or discontinue the FRA benefit, including but not limited to eligibility criteria, redemption value, and benefit structure, at its sole discretion.

5. Expiration and Validity

5.1 All rewards earned within the Program have specified expiration dates which will be clearly displayed within the application.

5.2 It is the user's responsibility to monitor expiration dates and utilize rewards before they expire.

5.3 Expired rewards will be automatically forfeited and cannot be reinstated, extended, or exchanged for monetary value.

5.4 RentenPe may, at its discretion, extend expiration periods as part of special promotions or considerations.

6. Program Modifications and Termination

6.1 RentenPe reserves the right to modify, suspend, or terminate the Program or any part thereof at any time without prior notice.

6.2 In the event of Program termination, users will be given a reasonable period, as determined by RentenPe, to redeem outstanding rewards.

6.3 RentenPe may introduce new features, benefits, or redemption options within the Program at any time.

7. Fraud Prevention and Account Suspension

7.1 RentenPe reserves the right to audit accounts for compliance with these Terms and Conditions.

7.2 Any fraudulent activity, abuse of the Program, or violation of these Terms and Conditions may result in the forfeiture of accumulated rewards and/or suspension of Program participation.

7.3 Multiple accounts created to accumulate additional rewards are strictly prohibited and may result in account termination.

8. Limitation of Liability

8.1 RentenPe shall not be liable for any failure or malfunction that may affect the operation of the Program or the ability to participate in the Program.

8.2 Rewards are provided on an "as is" basis without warranties of any kind, either express or implied.

8.3 RentenPe shall not be responsible for any losses or damages arising from the use of rewards or participation in the Program.

9. Privacy and Data Protection

9.1 Information collected in connection with the Program is subject to RentenPe's Privacy Policy.

9.2 By participating in the Program, users consent to the collection, use, and processing of their personal information for purposes related to Program administration.

10. General Provisions

10.1 Rewards are non-transferable, non-negotiable, and cannot be exchanged for cash or other monetary value.

10.2 RentenPe's decisions regarding all Program matters are final and binding

10.3 These Terms and Conditions constitute the entire agreement between RentenPe and Program participants regarding the Program.

10.4 Participation in the Program constitutes acceptance of all the above Terms and Conditions.