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Loan Agreement & Legal Disclosure

Please review all sections carefully before accepting.

1. Governing Law & Regulatory Compliance

This agreement is governed by the Laws of the Republic of Zambia. By proceeding, you agree to comply with:

  • The Banking and Financial Services Act (2017)
  • The Money Lenders Act (Chapter 398)
  • The Movable Property (Security Interest) Act (2016)
2. Exclusive Mobile Money Payments

To ensure security and real-time reconciliation, all transactions are processed exclusively via Mobile Money (MoMo) through MTN, Airtel, or Zamtel.

  • No Cash Policy: We do not accept cash payments. Any payment made to individuals is not recognized as a loan repayment.
  • Fees: The borrower is responsible for all network-related transaction and withdrawal fees.
3. Early Settlement Policy

Interest and service fees are calculated based on the fixed term of the loan. Early repayment is NOT pro-rated. If the loan is settled before the maturity date, the total interest and fees originally agreed upon remain payable in full.

4. Default & Law Enforcement Engagement

Failure to clear the loan by the due date results in immediate default status.

  • Enforcement: We reserve the right to engage Law Enforcement Agencies and debt recovery specialists to recover funds.
  • CRB Listing: Defaulting borrowers will be reported to the Credit Reference Bureau (CRB), affecting future credit eligibility in Zambia.
  • Legal Costs: The borrower shall be liable for all costs incurred during the recovery process.
5. Confidentiality & Data Protection

In compliance with the Data Protection Act No. 4 of 2021, your data is kept confidential. We will only disclose your information to authorized credit bureaus, law enforcement, or upon receipt of a valid court order.