1. General Provisions

1.1. The agreement only contains the terms applicable to the purchase of Products and/or services by interest-free payment in arrears. All the terms not contained in the present Agreement (including on delivery, warranty, etc.) can be found in the Distance Purchase Contract (hereinafter referred to as the Contract), which prevails over the present Agreement. The Agreement and the Payment Schedule is an integral part of the Contract.

1.2. The purchase of Products and/or Services on the basis of an interest-free payment in arrears is open to natural persons from the age of 21. The minimum amount for purchases by interest-free payment in arrears is EUR 40.

1.3. The maximum period of interest-free payment in arrears is 60 months.

2. Subject of the Agreement

2.1. The Seller sells and the Buyer buys the Product and/or Service in compliance with the terms and conditions of the Contract and the Agreement.

2.2. The title to the Product is transferred to the Buyer on the day when the Buyer accepts the Product.

3. Procedure for Placing and Confirming Orders

3.1. By choosing to purchase Products and/or Services with interest-free payment in arrears, where the amount of the arrears payment is from EUR 40.00 to EUR 4,000.00:

3.1.1. The Buyer fills in the Application on the purchase of a Product and/or Service by interest-free payment in arrears on the User’s account and sends it to the Seller.

3.1.2. By submitting the Application on the purchase of a Product and/or Service by interest-free payment in arrears, the Buyer confirms the conclusion of the transaction and that they have selected this type of transaction and agreed to perform the purchase by interest-free payment in arrears.

3.1.3. The Seller confirms receipt of the Order by sending the Order number to the e-mail address specified by the Buyer.

3.1.4. After checking the creditworthiness of the Buyer, the Seller shall send the information on the concluded transaction, the electronic invoice, the Payment Schedule, the terms and conditions of the Contract and the terms and conditions of the Agreement to the e-mail address of the Buyer. As of this moment, the Contract, the Agreement and the Payment Schedule shall become binding on the Parties.

3.2. By choosing to purchase Products and/or Services with interest-free payment in arrears, where the amount of the arrears payment is from EUR 4,000.00: 

3.2.1. The Advance Payment shall be applied to the Buyer.

3.2.2. The Buyer fills in the Application on the purchase of a Product and/or Service by interest-free payment in arrears on the User’s account and sends it to the Seller. 

3.2.3. By submitting the Application on the purchase of a Product and/or Service by interest-free payment in arrears, the Buyer confirms the conclusion of the transaction and that they have selected this type of transaction and agreed to the amount of the Advance payment defined by the Seller as well as to perform the purchase by interest-free payment in arrears. 

3.2.4. The Seller confirms receipt of the Order by sending the Order number and the Advance Invoice to the e-mail specified by the Buyer. 

3.2.5. After checking the creditworthiness of the Buyer and the receipt of the Advance payment, the Seller shall send the information on the approved Order, the concluded transaction, the electronic invoice, the Payment Schedule, the terms and conditions of the Contract and the terms and conditions of the Agreement to the e-mail address of the Buyer. As of this moment, the Contract, the Agreement and the Payment Schedule shall become binding on the Parties.

3.3. The Seller may request a statement from the Buyer issued by the State Revenue Service on the income of the natural person (borrower), which is not older than 30 days, if the amount of the payment in arrears exceeds EUR 30,000 and/or the Buyer’s personal identity number does not contain birth data. 

3.4. The Seller reserves the right to:

3.4.1. following the assessment of the Application for the purchase of a Product and/or a Service on the basis of the terms of interest-free payment in arrears:

3.4.1.1. fix the Advance Payment and send the Advance Invoice to the Buyer;

3.4.1.2. refuse to sell Products and/or Services on the basis of the terms of interest-free payment in arrears without providing any explanation. In this case, the Order and the Agreement shall not be binding on the Parties;

3.4.2. cancel the Order if the Buyer fails to make the Advance Payment within the deadline specified in the Advance Invoice.

3.5. The Seller’s refusal to grant interest-free payment in arrears does not limit the Buyer’s right to place a new order and choose advance payment in full.

3.6. The Seller shall issue and send the current invoice with the monthly charge for the purchase of the Product and/or Service to the Buyer in accordance with the approved Payment Schedule to the email address or postal address provided by the Buyer. The Parties hereby agree that if the Buyer receives a monthly invoice from the Seller for the electricity and/or natural gas consumed, the payments due under this Agreement and Payment Schedule shall be included and sent to the Buyer together with the invoice for the electricity and/or natural gas consumed. The Parties hereby agree that all payments received shall first be attributable to the obligations under the Product and/or Service purchase agreement (if the Buyer has several of such agreements, the payments shall be attributable sequentially at the discretion of the creditor), followed by the obligations under the electricity and/or natural gas trade agreement, and finally to the additional service provided by Seller (if the Buyer receives multiple additional services, the payments shall be attributable sequentially at the discretion of the creditor).

3.7. In an electronic invoice, the signature of a person shall be replaced by an electronic confirmation (authorisation).

3.8. The Buyer may cancel the Payment Schedule at any time by paying the remaining balance of the Purchase Amount in full. In this case, the Buyer shall send an application to the e-mail address of the Seller: elektrumveikals@elektrum.lv stating that they wish to pay the full balance of the purchase price. Upon receipt of the application, the Seller shall prepare and send an invoice for the balance of the purchase price to the Buyer. The Buyer shall pay the invoice of the Seller within 3 (three) business days from the date of issue of the invoice.

4. Liability of the Parties

4.1. The Parties shall be liable for direct damages caused to the other Party as a result of their action/inaction.

4.2. In the event of a delay in the payment of the current instalment, the Buyer shall pay late payment interest at the rate of 0.15% of the amount of the delayed instalment for each day of delay.

4.3. The Buyer is aware of the fact that if it fails to make payments in accordance with the terms of the Contract and the Agreement, their data may, without prior notice, be transferred to a debt recovery service provider for debt recovery, and the Seller shall be entitled to cede the claim of the Seller against the Buyer to third parties without the consent of the Buyer. 

4.4. The Buyer is aware of the fact that the Seller is authorised to provide information about the debt and the Buyer, including the Buyer’s personal data, to the providers of the debt recovery service and the credit information bureaus in compliance with the procedure defined by the legislation. The data of the Buyer and the information about the debt may be posted in registered databases of debtors and databases of credit record and credit information offices in compliance with the procedures defined by the laws and regulations unless the Buyer has sufficiently performed their payment liabilities under the Contract.

5. Validity Period and Termination of the Agreement

5.1. The Agreement shall enter into force on the day of its mutual electronic approval and is in force until the full and due performance of the liabilities provided therein or cancellation of the Order.

5.2. The Agreement shall be terminated and the Order placed by the Buyer shall be cancelled if the Buyer does not receive the Product and/or Service within the period, in the manner and at the place stipulated by the Contract and the Agreement.

5.3. The Seller is entitled to withdraw from the Contract and the Agreement unilaterally by notifying the Buyer thereof in writing if the Buyer delays the term of any payment defined by the Payment Schedule. In this case, the Buyer shall immediately (no later than within 3 (three) business days) pay the entire outstanding purchase price and, on the basis of an invoice issued by the Seller, reimburse the Seller for any damages incurred.

6. Other Provisions

6.1. The Seller is authorised to refuse to sign the present Agreement in the case if the Buyer has not confirmed that it has become acquainted with the terms of use of the Elektrum portal, the Contract terms and the Agreement terms at the moment of signing the Agreement.

6.2. The Buyer is aware and informed of the fact that prior to entering into the business relationship, the Seller will manage its credit risk and assess the creditworthiness of the Buyer by checking the information in the databases of credit information bureaus in order to assess the obligations of the Buyer and their discipline in the performance thereof. The Seller shall request that the Buyer submit a statement issued by the State Revenue Service on the income of the natural person (borrower), which is not older than 30 days, to assess the capacity of the Buyer to meet the assumed liabilities if the amount of the payment in arrears exceeds EUR 30,000 and/or the personal identity number of the Buyer does not contain birth data. Additional information on the processing of personal data is available in the Principles of Personal Data Processing when concluding an agreement on the purchase of a product with interest-free payment in arrears.

6.3. If the Buyer does not confirm that they have read the terms of the present Agreement, the Seller shall offer for the Buyer to pay the full price for the ordered Products and/or Services to the Buyer without the option of payment in arrears.

6.4. The Buyer is not entitled to assign the liabilities provided for by the present Agreement to third parties fully or partially without the Seller’s written consent. The Seller is entitled to assign the performance of the present Agreement fully or partially to its related companies and third parties.

6.5. The Agreement was drafted and approved electronically, and it is valid and binding for the Parties without a signature.

Version valid from 13 March 2024.