Legal
Terms & Conditions
The contract between you and us when you borrow. This page must be approved before the site accepts a single application.
1. Who we are
This section must set out: Registered name, business registration number, money lender licence number and registered office.
2. Who can borrow
This section must set out: Minimum age, residency, income and employment conditions, and any category of person excluded.
3. How to apply
This section must set out: The steps, what we ask for, and confirmation that an application is an offer to borrow, not an agreement.
4. Our right to decline
This section must set out: That we may decline any application without giving reasons, and that a quotation is not an approval.
5. Interest, fees and charges
This section must set out: The interest rate per product, how it is calculated, the arrangement fee and when it is deducted, and every other charge that can arise.
6. Repayment
This section must set out: How and when repayments are collected, payroll deduction authority, what happens if a payment fails, and the order in which payments are applied.
7. Late payment and default
This section must set out: The grace period, the late charge, how long it accrues, when a loan is treated as in default, and what recovery steps may follow.
8. Early settlement
This section must set out: The borrower's right to settle early, how the settlement figure is worked out and any discount that applies.
9. Extensions
This section must set out: That extensions are not automatic, must be requested and approved, the minimum payment required and the cost of extending.
10. Your obligations
This section must set out: Giving true information, notifying us of changes in employment, address or banking, and cooperating with verification.
11. Our obligations
This section must set out: Providing a written agreement and repayment schedule, giving notice before charges, and handling data lawfully.
12. Communication
This section must set out: How we contact you, that SMS and WhatsApp may be used, and how to change your preference.
13. Complaints
This section must set out: A pointer to the Complaints Procedure and the timeframes in it.
14. Changes to these terms
This section must set out: How changes are made and notified, and that changes do not alter a signed agreement.
15. Governing law
This section must set out: That the agreement is governed by the laws of Zambia and which courts have jurisdiction.
Once approved wording is supplied it is inserted here and this notice is removed. Each section is stored separately so it can be updated without rebuilding the site.