1.1. This document sets out the complete Terms and Conditions (hereinafter called “these Terms and Conditions”) which shall be applicable to CREDITCARE Whitebook Loans. 1.2. These Terms and Conditions and any amendments or variations thereto shall remain in full force and effect and apply to all Loans made to the client from time to time until such time as these Term and Conditions may be terminated in accordance with clause 15.1 below.

2. DEFINITIONS
2.1. In these Terms and Conditions, the following words and expressions (save where the context requires otherwise) bear the following meanings: 2.1.1. “Client” means the person signing these Terms and Conditions as the borrower; 2.1.2. “Client Registration/Application Form” is annexed to these Terms and Conditions where you indicate your personal and financial details which will be used to evaluate your eligibility for a loan. 2.1.3. “Employer” means entity specified in Client Registration form and being an employer of Client at the time of entering into this agreement. 2.1.4. “Equipment” means your mobile phone handset, SIM Card and/ or other equipment which when used together enables you to access the Network; 2.1.5. “Interest” has the meaning given to it under clause 5.2. The Interest is subject to change from time to time at CREDITCARE’s sole discretion; 2.1.6. “Penalty” means money payable by the Client to CREDITCARE in accordance with clause 5.5 which is pre-estimate the loss to be suffered by CREDITCARE in funding the default of the Client after failing to pay the Loan and Interest or other sums outstanding, due or owing by the Client to CREDITCARE; 2.1.7. “Phone Number” means telephone number within the Network you have indicated in Client Registration Form the above section “CREDITCARE Whitebook Loan Applicant Personal Details” which is associated with your mobile Account; 2.1.8. “Services” shall include any form of credit services or products that CREDITCARE may offer you pursuant to these Terms and Conditions; 2.1.9. “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network. 2.1.10. “SMS” means a short message service consisting of a text message transmitted from one mobile phone to another; 2.1.11. “System” means CREDITCARE’S electronic communications software enabling the Client to communicate with CREDITCARE for purposes of the Services; 2.1.12. “CREDITCARE” means CREDITCARE FINANCIAL SOLUTIONS LIMITED incorporated in Zambia as a limited liability company with Registration No. 120180004083 under the Companies Act (Laws of the Republic of Zambia) and includes subsidiaries, successors and assigns of CREDITCARE as may from time to time be notified to you; 2.1.13. “We,” “our,” and “us,” means CREDITCARE and includes the successors and assigns of CREDITCARE; 2.1.14. “You” or “your” means the Client and includes the personal representatives, heirs and successors of the Client; 2.2. The word “Client” shall include both the masculine and the feminine gender as well as legal persons and entities; 2.3. “Credit Reference Bureau” means a credit reference bureau duly licensed under the laws so the republic of Zambia to collect and facilitate the sharing of client credit information. 2.4. Words importing the singular meaning where the context so allows include the plural meaning and vice versa. 2.5. Headings in these Terms and Conditions are for convenience purposes only and they do not affect the interpretation of these Terms and Conditions.

3. ACCEPTANCE OF THE TERMS AND CONDITIONS
3.1. By applying for a Loan, you agree to comply with and be bound by these Terms and Conditions. The Terms and Conditions will ipso facto apply to any future Loans issued to you by CREDITCARE. 3.2. These Terms and Conditions may be amended or varied by CREDITCARE from time to time and any new Loan application or Extension constitutes your agreement to be bound by the terms of any such amendment or variation.

4. APPLICATION FOR THE LOAN
4.1. After signing of these Terms and Conditions by the Client and CREDITCARE, the Client can apply for a Loan from CREDITCARE. 4.2. When you apply for a Loan, your application will be evaluated according to the applicable loan evaluation processes of CREDITCARE. CREDITCARE reserves the right at its sole and absolute discretion and without giving any reason to approve, in full, in part, or decline your application for a Loan. 4.3. Subject to the approval of your loan application, CREDITCARE shall disburse to you a Loan of an amount to be determined by CREDITCARE in its sole discretion. 4.4. Following the approval of your Loan application, the amount of the Loan shall be credited into your Bank Account or other means deemed necessary by CREDITCARE.

5. REPAYMENT AND EXTENSION OF THE LOAN
5.1. You shall repay the Loan within a time period indicated on your loan application from the date of disbursement. The loan shall be repaid in equal periodic installments starting on the immediate set company due date from the date of disbursement of the loan to CREDITCARE. The periodic repayment installment is calculated as the sum of loan principal and Interests amount for the duration of the loan divided by the number of months the loan is issued for. 5.2. In consideration of CREDITCARE granting you the Loan, at an interest of 20% (the “Interest”) per month (“Flat Rate”) of the Loan amount. You shall make all payments due from you to CREDITCARE in respect of the Loan, including but not limited to the Loan repayment, Interest and Penalty, to our designated Bank account unless otherwise agreed by CREDITCARE in its sole discretion. 5.3. You may repay the Loan at any time before the due date. However, this does not affect the amount of Interest payable, which must be paid in full. 5.4. If you fail to repay any of the installment due or any other sum due or owing by you to CREDITCARE in due time, then the full loan amount shall be due immediately. 5.5. If borrower is more than 2 (two) banking days late in making the payment, a penalty fee of (10%) will be charged on the installment due and if the borrower is more than (7) seven banking days late in making the payment the Lender shall declare that the entire balance of unpaid loan is due immediately, and CREDITCARE shall be entitled to initiate recovery Action against you for the full recovery of the amounts due and to refer your credit details to a Credit Reference Bureau(s). 5.6. In addition to the Penalty, CREDITCARE may charge a collection fee of 15% (fifteen percent) of the outstanding amount balance to cover internal and external recovery expenses if Client is in arrears for more than 14 (fourteen) days. The Client acknowledges, agrees and confirms that the aforesaid late payment collection charge represents a reasonable pre-estimate of the loss to be suffered by CREDITCARE. 5.7. CREDITCARE shall apply all payments received according to these Terms and Conditions in following order: (1) costs and expense payable (collection fee), (2) legal fees, (3) accrued and unpaid Penalty, (4) Interest, (5) the principal (Loan).

6. COLLATERAL
6.1 The client warrants that no other Creditor has right to ownership of the listed collateral that may interfere with the CREDITCARE’S ability to take and profit from the sale of said property in the event that the above listed debts are not repaid. 6.2 The client warrants that they are the rightful legal owner of the listed collateral. 6.3 The client shall notify the Secured Party of any changes to their contact information or physical address. 6.4 The client shall not to sell or transfer ownership of the propertylisted in this collateral agreement until their debt to CREDITCARE has been fully resolved. 6.5 Should the client default on the above listed debt, CREDITCARE shall have the right to seize the listed collateral and resell it to recoup their lost investments and costs as outlined in section 5 above. 6.6 CREDITCARE reserves the right to indorse its name as the second owner on the vehicle registration certificate (Whitebook) at any time during the course of the loan. Such endorsement may be removed by the client once the loan has been repaid in full at the clients cost.

7. FEES AND TAXES
7.1. If any, the client is responsible for all applicable tax payments, including deduction of any withholding tax. 7.2. All Mobile Transaction Fees payable in connection with the client’s use of the Services, including but not limited to repayment of Loan, Interest, Extension Fee and Penalty shall be borne by the Client. 7.3. You shall indemnify CREDITCARE on a full and unqualified indemnity basis against: 7.3.1. Any legal charges including, without limitation, advocate and client costs incurred by CREDITCARE in obtaining legal advice in connection with the Loan, related to your dealings with CREDITCARE or incurred by CREDITCARE in any legal, arbitration or other proceedings arising out of any dealings in respect of the Loan; and 7.3.2. All other fees, expenses and taxes, duties, impositions and expenses incurred in respect of Loan. 7.4. You hereby agree to pay all costs, charges and expenses incurred by CREDITCARE in obtaining or attempting to recover the Principal Loan amount, Interest, Penalty or any other sum due from you. 7.5. All payments due to be made by the Client hereunder shall be made free and clear of and without deduction for or on account of any present or future taxes. If at any time, any regulatory requirement or any taxing authority requires the Client to make any deduction or withholding in respect of taxes from any payment due from them for the account of CREDITCARE, the sum due from the Client in respect of such payment shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, CREDITCARE receives a net sum equal to the sum which CREDITCARE would have received had no such deduction or withholding been required to be made and the Client shall indemnify CREDITCARE against any losses or costs incurred by CREDITCARE by reason of any failure of the Client to make any such deduction or withholding.

8. STATEMENTS
8.1. You may request for a statement in respect of your Loan Status from CREDITCARE. 8.2. A Statement shall provide details of your transactions in respect of the Loan. 8.3. The Statement shall be sent to you in printed form or such other electronic means as CREDITCARE may in its discretion determine.

9. EXCLUSION OF LIABILITY
9.1. CREDITCARE shall not be responsible for any loss suffered by you: (a) If the Services (bank or mobile money services) are interfered with or be unavailable for any reason; or (b) As a result of any fraudulent or illegal use of the Services, the System, your Phone Number and/or your Equipment; or (c) Resulting from any other circumstances whatsoever notwithin CREDITCARE’s control including, without limitation, force majeure, error, interruption, delay, terrorism, enemy action, equipment failure, loss of power, adverse weather or atmospheric conditions and failure, malfunction, interruption or unavailability of the Network or any telecommunication system. 9.2. Under no circumstances shall CREDITCARE be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused arising including, without limitation those caused or arising out of or in connection with: (a) The Services; (b) The delay in confirming its approval or rejection of the application a Loan or in disbursing the Loan following approval of the Loan application; (c) The termination of these Terms and Conditions; (d) The cancellation or calling in of the Loan pursuant to clause 12 and/or (e) The matters set out in clause 10.1 above even where the possibility of such loss or damage is notified to CREDITCARE. 9.3. All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law. 9.4. You acknowledge and agree that you have no claim against CREDITCARE for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to the Loan.

10. INDEMNITY
10.1. In consideration of the Services you undertake to indemnify CREDITCARE and hold it harmless on a full and unqualified indemnity basis against any loss, charge, damage, expense, and fee or claim which CREDITCARE suffers or incurs or sustains thereby and you absolve CREDITCARE from all liability for loss or damage which you may sustain from CREDITCARE acting on your instructions or requests or in accordance with these Terms and Conditions. 10.2. For the purposes of Clause 10.1, the expression “your instructions or requests” means any instructions or requests received by CREDITCARE from your Phone Number, whether or not such instructions or requests are made by you or someone else acting with or without instructions, it being acknowledged and agreed that CREDITCARE shall treat all such instructions or requests as made without the necessity of independent investigation or verification. In this regard, you irrevocably authorize CREDITCARE to act on all instructions or authorization received by CREDITCARE from your Phone Number and to hold you liable in respect thereof, notwithstanding that any such requests are not by you or authorized by you. 11. VARIATION AND TERMINATION OF RELATIONSHIP
11.1. CREDITCARE may at any time, upon notice to you, terminate or vary its business relationship with you, and in particular CREDITCARE may cancel or call in Loans which it has granted and require the repayment of outstanding debts resulting therefrom within such time as CREDITCARE may determine.

12. DISCLOSURE OF INFORMATION
12.1. By signing these Terms and Conditions you hereby expressly consents and authorizes CREDITCARE to disclose, receive, record or utilize your personal information, and data relating to the Loan application, the Loan, the Loan repayment details and any other data or details within the limit permitted by law: 12.1.1. To and from any local or international law enforcement or competent regulatory or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud; 12.1.2. To and from CREDITCARE’S service providers, dealers, agents, assignees or any other company that may be or become CREDITCARE’S subsidiary or holding company for reasonable commercial purposes relating to the Services; 12.1.3. to a Credit Reference Bureau; 12.1.4. to CREDITCARE’S lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings; 12.1.5. For reasonable commercial purposes connected to the use of the Services, such as marketing and research related activities; and 12.1.6. In business practices including but not limited to quality control, training and ensuring effective systems operation. 12.2. You hereby agree and authorize CREDITCARE to obtain and procure Personal Information contained in the IPRS from the Government of Zambia and you agree and consent to the disclosure and provision of such Personal Information by the Government of Zambia to CREDITCARE. 12.3. You hereby expressly consent and authorize CREDITCARE to request and receive any credit history data about you from a Credit Reference Bureau.

13. MISCELLANEOUS
13.1. These Terms and Conditions (as may be amended from time totime) form a legally binding agreement binding on you, your personal heirs, successors, Guarantors, their personal heirs and successors. 13.2. These Terms and Conditions and any rights or liabilities accruing thereunder may not be assigned by you to any other person. CREDITCARE can at its sole discretion assign, novate and cede any rights, obligations and liabilities arising out of these Terms and Conditions to any third party. 13.3. CREDITCARE may vary or amend at any time and without notice to you these Terms and Conditions, the Application Fees, the Interest, the Penalty or the Collection charge. Any such variations or amendments may be published in CREDITCARE’s website and/or by any other means as determined by CREDITCARE and any such variations and amendments shall take effect immediately upon publication. Your continued use of the Services will constitute your agreement to be bound by the terms of these Terms and Conditions as amended or varied from time to time. 13.4. The rights and remedies of CREDITCARE herein provided are cumulative and not exclusive of any rights or remedies provided by law. No failure or delay by CREDITCARE to exercise any right or remedy shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or exercise of any other right or remedy. 13.5. If any provisions of the terms and conditions shall be found by any duly appointed arbitrator, court or administrative of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provisions shall not affect any other provisions herein. 13.6. That this Loan Application shall take effect in tandem with the Loan agreement entered into by the parties.

14. NOTICES AND CHANGES IN CONTACT OR PAYMENT DETAILS 14.1. CREDITCARE may send information concerning the Loan via SMS or email to your indicated details. 14.2. In event of changes in or other payment and contact details CREDITCARE shall immediately inform the Client. CREDITCARE bears no responsibility for any damage, loss, delays, misunderstandings or any other irregularities if Client would use the prior contact or payment details. 14.3. In event of changes in your contact details or that of any Guarantor you shall immediately inform CREDITCARE.

15. DURATION OF AGREEMENT
15.1. These Terms and Conditions will continue to bind indefinitely subject to the right of CREDITCARE to terminate them at any time for any reason. The Client may request CREDITCARE to terminate the binding effect of these Terms and Conditions if they have no outstanding obligations to CREDITCARE. 15.2. Termination of these Terms and Conditions (howsoever occurring) shall not affect any accrued rights and liabilities of either party.

16. DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION 16.1. Any dispute arising out of or in connection with these Terms and Conditions shall be resolved between the parties through the Lender’s internal dispute resolution team. 16.2. These Terms and Conditions shall be governed by and construed in accordance with the applicable laws of the Republic of Zambia.