1.  Introduction

1.1 This agreement outlines the terms and conditions (the “Terms”) between you (a “Lender” or “you”) and PremierCredit Zambia Limited (“PCZL”, the “Company”, “we” or “us”) under which you agree to lend money through the Company’s peer-to-peer lending website (the “Platform”) to third party borrowers.

1.2 It is important that you read these Terms carefully. It is also important that you understand peer-to-peer lending. We strongly recommend that you seek independent financial and tax advice when considering whether to lend your money through the Platform.

1.3 PCZL does not provide any advice, nor does it make any recommendations to you. The Company solely Matches you to Borrowers on the Platform. It is your responsibility to assess whether the Platform is suitable or appropriate for your needs and any decision made to use our Services is done so entirely at your own risk. Please be aware that execution of these Terms does not imply that we have confirmed that use of the Platform and our Services are suitable or appropriate for you. We advise you to consider whether lending through the Platform meets your required risk levels and investment objectives, and you should only commit such funds that you are able to financially bear the risk of losing considering your other financial commitments. By using the Platform, you confirm that you have the necessary experience and knowledge to understand the risks involved or are able to take advice from a relevant qualified investment professional or advisor to assist you in understanding the risks involved.

1.4 You confirm your agreement to these Terms either by registering on our online application system or by signing a physical copy of these Terms and returning them to us. You should read these Terms carefully before making an online application or signing a physical copy of them and you should retain a copy for future reference. Please refer to clause 26.2 for information regarding future amendments to the Terms.

1.5 Where the Company has published a document which is referred to within these Terms (such as a policy document), that document shall also form part of these Terms and shall be deemed to have been agreed to by you. In the event of any conflict between these Terms and a document referenced within them, these Terms shall prevail.

2. Definitions and Interpretation

2.1 The following definitions should be read carefully as they provide important explanation and guidance on interpretation of the language used in these Terms.

“Application” has the meaning given to it in clause 10.2.

“Auto-Matching System” means the automated matching programme run on a weekly basis by the Company that Matches Lenders and Borrowers.

“Borrower” means an individual or legal entity that has registered and has been approved by the Company’s Credit Approval Team as a borrower on the Platform.

“Business Day” means a day (other than a Saturday, Sunday or Public Holiday) when banks in Zambia are open for business.

“Holding Account” means a segregated bank account where cleared funds which you deposit with us are held on your behalf to enable you to make Lending Commitments.

“Credit Approval Team” means the Company’s credit committee which evaluates and approves all potential Borrowers and Borrower loan requirements on the Platform.

“Default Event” means an event where a Borrower defaults under a Loan Agreement and fails to remedy that default in accordance with that Loan Agreement.

“Early Access” means the service provided by the Company where, on the request of a Lender, we may arrange for the transfer of that Lender’s interest in a Loan Agreement to another Lender on the Platform.

“Information” means any of the information that can be viewed or downloaded from the Website (including the Platform) and includes, but is not limited to, data, pricing information, terms, images, reports, policies and software and also includes any copyright, Intellectual Property Rights, Information Technology or other commercially valuable property of the Company.

“Information Technology” means all computer hardware (including network and telecommunications equipment), databases, and all computer software (included the Platform or any software required for the Platform) owned, used or leased by the Company.

“Intellectual Property Rights” means all patents, rights to inventions, copyrights and related rights, trade marks, business names and domain names, rights in get up, goodwill and rights to sue for passing off, database rights, rights to use, and protect the confidentiality of, confidential information, and all other intellectual property rights, whether registered or unregistered, including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim property from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world.

“Investment Tenure” means the tenure of months within which the Lender’s funds/investment/capital shall be utilized on the Platform as decided and accepted by the Lender during the initial registration stage. This further means the term of months within which the said Lender shall be receiving their Monthly Interest Returns before they are eligible to withdraw their funds/investment/capital.

“Lender” means you and/or another lender (including, without limitation) on the Platform, as the case may be.

“Lending Commitment” means a commitment by a Lender to lend money through the Platform on the terms of the Product or Products selected by that Lender.

“Loan Agreement” means a loan agreement between one or more Lenders and a Borrower.

“Match”, “Matches”, “Matched” or “Matching” refers to the process of matching a Borrower with one or more Lenders through the execution of a Loan Agreement by a Lender or through the transfer of a Loan Agreement to a Lender by way of assignment, novation, sale, sub-participation or any other suitable method of transfer.

“My Account” means your personalised secure area of the Platform (accessible through your log-in details) which shows the Loan Agreements to which you have been Matched, your Lending Commitments and your balance in the Holding Account.

“Platform” means the internet based peer-to-peer lending service provided by PCZL and includes all secure areas of the Website in addition to any technology made available to Lenders.

“Product” means each individual lending product made available on the Website.

“Security” means any mortgage, charge (whether fixed or floating, legal or equitable), pledge, lien, assignment by way of security or other security interest.

“Security Trustee” means PCZL which will hold in trust all Security granted by Borrowers pursuant to Loan Agreements.

“Service Providers” means all third party suppliers who provide either a service or product to the Company which is used by us to provide the Services.

“Services” means the provision of the Platform and other related and ancillary services including, without limitation, the provision of credit reference information, online identification verification software, banking applications and the technology that supports the Website and Platform.

 “Thirty Day Product” means the Product available on the Platform called the “30 Day Product (Income)” or “30 Day Product (Capital)”.

“Website” means www.premiercredit.co.zm 

3. Interpretation

3.1 In these Terms, the following rules of interpretation shall apply:

(a) clause and paragraph headings shall not affect the interpretation of these Terms;

(b) a reference to a person shall include a reference to an individual, firm, company, corporation, partnership, unincorporated body of persons, government, state or agency of a state or any association, trust, joint venture or consortium (whether or not having separate legal personality) and that person’s personal representatives, successors, permitted assigns and permitted transferees;

(c) unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular; and

(d) unless the context otherwise requires, a reference to one gender shall include a reference to the other gender.

4. Legal and Regulatory Information

• • PCZL is a limited liability company registered in Zambia with its registered address atUnit 502 5th Floor Sun Share Tower Stand No. LN_15584/1 Katima Mulilo Road Lusaka, Zambia. The Company is authorized and regulated by the Patents and Companies Registration Agency (Registration Number 120190002254), the Ministry of Finance, under the Money Lenders Act.
  • The Company is the operator of the Platform and, under the terms of this Agreement, will arrange for Lenders to be Matched into Loan Agreements and makes arrangement for payment of interest and capital received from Borrowers to be paid to you or re-Matched in accordance with the terms of the Product or Products you have selected when you made your Lending Commitment. PCZL administers the means by which the Loan Agreements are repaid, interest thereupon is collected and forwarded to Lenders and where necessary defaulting Borrowers are pursued.
  • PCZL is not authorized or regulated to provide lenders with advice on the loans they enter into, nor to provide any other designated investment service. Additionally, PCZL does not provide fiscal, financial, legal or other professional advice to Lenders.

5. Basis of Agreement

5.1 These Terms and the terms of any Loan Agreement to which you are Matched constitute the terms on which you agree to lend money to third party Borrowers through the Platform.

5.2. The Terms constitute the entire agreement between you and us. You acknowledge that you have not relied on any statement, promise, representation, assurance or warranty made or given by or on behalf of the Company which is not set out in these Terms.

5.3. Any valuations carried out by an independent surveyor (in the case of commercial and residential property assets only) or any assessments by the Credit Approval Team are provided for the assessment of potential Borrowers and their proposed Security. Such valuations and assessments are for the benefit of the Company only and shall not form part of these Terms or any Loan Agreement.

5.4. These Terms apply to any Services we provide to you, to the exclusion of any other terms that may be imposed or incorporated, or which are implied by trade, custom, practice or course of dealing, save where any such terms are agreed by us in writing.

6. Lender Representations and Warranties

Representations and warranties are statements and promises made by you to the Company upon which we rely as being accurate in our dealings with you. You make the following representations and warranties to us at the time of entering into these Terms and every time you use the Platform or Services, including the time you make a Lending Commitment or are Matched to a Loan Agreement:

(a) you are over the age of 18 years;

(b) you are of sound mind and have the capacity to enter into these Terms and be Matched to each Loan Agreement;

(c) all personal information that you provide about yourself is accurate and true to the best of your knowledge;

(d) you hold a bank account in Zambia in your own name and will use this account to transfer money to your Holding Account and any repayment to you will be repaid to this account, except were notified to us in accordance with clause 14.5;

(e) you have carefully considered the risks involved with using the Platform, the Services and being Matched to Loan Agreements and also the risks associated with peer-to-peer lending, including but not limited to the possibility of losing all the money you lend;

(f) you will only ever lend your own money unless you are authorised on behalf of a third party (“Third Party”) and we agree that you may act on behalf of that Third Party. We may request that you provide written authorization from the Third Party confirming you have the necessary authority to deposit and lend money on their behalf;

(g) if you are registering or accepting these Terms on behalf of a legal entity such as a company, trust or partnership, you are legally authorised to do so and we may request evidence of such legal entitlement (by way of a copy of any document which shows the valid and subsisting authorization);

(h) you (as an individual or a legal entity) have only registered as a Lender once with the Company and you only hold one Holding Account, except where you have registered as a Lender in your personal capacity and have disclosed to us that you are seeking to register as a Lender on behalf of a separate legal entity or a Third Party;

(i) you are not breaching any laws or regulations that are applicable to you or any company, trust or partnership upon whose instructions you are acting; and

(j) if you are not a resident of Zambia, your use of the Platform or being Matched to Loan Agreements does not violate any laws or regulations applicable in your country of residence.

7. Acknowledgement, Payment of Principle Amount and Interest

7.1 You acknowledge and confirm that you have carefully considered the risks involved in lending your money through our Platform and that your participation in any Loan Agreement is entirely at your own risk.

7.2 You acknowledge that by making a Lending Commitment and being Matched to Loan Agreements you are engaging in peer-to-peer lending and that at no time do you, as Lender, lend money to the Company.

7.3 You acknowledge and confirm that you have made your own independent decision to make Lending Commitments and to be Matched to Loan Agreements and that your decision is based on such information as you deem appropriate under the circumstances and is without reliance upon the Company.

7.4 You confirm that the Company has not offered you any investment advice, nor have you received any investment advice from it, relating to the suitability of any of the Products, and your participation in any Loan Agreement through the Platform is done so entirely at your own risk. If you are in any doubt, we strongly recommend that you seek independent advice from an authorized and approved financial advisor.

7.5 In the event that the Borrower with whom you have been Matched defaults on repayments or on payments of interest the Company confirms that this default shall not impact on you, that is, you will still be entitled to and receive the principal amount and interest payments.  You will be entitled to the payment of the principal amount and interest that would have accrued as at the time of the Default Event. Payment of the principal amount and interest accrued shall be made within a period of 30 days from notification.

8. Platform Access and Use

8.1 The Platform and Website is, at all times, subject to our Website Terms of Use.

8.2. Secure access to the Platform is provided by way of your username and password. These log-in credentials are unique to you and are the primary method of securely identifying you when delivering our Services to you. It is therefore extremely important that you keep your username and password secure at all times and do not store them on a device or computer that would permit someone else to impersonate you.

8.3. If you suspect that your secure access to the Platform has been compromised in any way, it is your responsibility to contact us.

8.4. You confirm that you will not provide your username and password to any third parties and, in the event of any breach of this clause, you shall be responsible for any actions performed on your account by any such third party.

8.5. You confirm that you will only use our Platform for the purposes set out in these Terms.

8.6. You confirm that you will not attempt to gain unauthorised access to the secure areas of the Website or Platform and furthermore you will not attempt to use code or software to manipulate or automate functions available on the Website.

8.7. You understand that we may store your IP address information and may monitor your use of the Website in accordance with our cookie policy.

8.8 Access to the Platform may be restricted at the discretion of the Company, particularly during periods of maintenance and updating.

8.9. We have the right not to act on your instructions including where we deem that your instruction was not sufficiently clear, or we could not verify your identity to our satisfaction, or the instruction was not made by you, or we believe that the instruction may be related to an illegal activity.

8.10. You are responsible for any telecommunication costs, broadband fees or data charges that you incur though your access to the Platform.

9. The Lending Process

9.1 You acknowledge and confirm that, when you offer to lend money through the Platform, you will be offering your money to be lent by the Platform to a Borrower through peer-to-peer lending and you are not lending money to either the Company.

9.2. In order to lend money using the Platform, you must make a Lending Commitment through the Platform by selecting one or more Products and indicating the maximum amount you wish to commit in relation to each Product.

9.3. You may make one or more Lending Commitments in one or more Products provided that you have cleared available funds in your Holding Account up to the aggregate amount of the Lending Commitments.

9.4. You can send funds to your Holding Account by cheque or bank transfer. All funds must be sent from a bank account in your name. Once the funds have cleared, you will see the balance available in the My Account section of the Platform.

9.5. Upon receipt of your Lending Commitment, we will aggregate your Lending Commitment with the Lending Commitments of other lenders on the Platform and Match you with one or more Borrowers through the Auto-Matching System.

9.6. Subject to clause 9.11, we will operate the Auto-Matching System on a weekly basis whereby we will match your Lending Commitment to one or more Borrowers. The Company is the operator of the Platform and services the Loan Agreements as the Company’s agent.

9.7. Once you have been Matched with one or more Loan Agreements and whilst you have at least one Lending Commitment which has not expired, we may also, through the Auto-Matching System, transfer by assignment the whole or part of your interest in a Loan Agreement to another Lender or transfer by assignment the whole or part of another Lender’s interest in a Loan Agreement to you.

9.8. Lending Commitments are irrevocable and Lenders may only access their money prior to the expiration of a Lending Commitment by using the Early Access service.

9.9. You may become Matched to a Loan Agreement which has a shorter or longer term than the term specified in your Lending Commitment and whilst we will endeavour, through the Auto-Matching System, to repay your money at the expiration of your Lending Commitment, you will not be repaid any earlier than the expiry of your Lending Commitment and you may not be repaid until the repayment of the Loan Agreements to which you are, at any time, Matched as Lender.

9.10. You may be Matched to a Borrower whose Loan Agreement has a different interest rate to the rate specified in the Products which form part of your Lending Commitment. You will only be paid the rate of interest set out in your Lending Commitment.

9.11. Provided that a Loan Agreement has not been removed from the Auto-Matching System pursuant to clause 10.7, you may be Matched to a Loan Agreement which is subject to a Default Event.

9.12. The Company is under no obligation to operate the Auto-Matching System and may Match Lenders with Borrowers using any process it deems appropriate and there may be instances where, having made a Lending Commitment, some or all of your funds are not Matched.

9.13. You hereby irrevocably appoint the Company as your agent to perform all duties relevant to the Loan Agreements for as long as these Terms remain in force and to manage the recovery processes where any Borrower has failed to make payments to you under any Loan Agreement or where a Default Event has occurred.

9.14. You agree that any Security provided by a Borrower shall be held by the Security Trustee and the Security Trustee shall be entitled to enforce the Security on your behalf where necessary.

9.15. You are not permitted to vary or cancel the terms of any Loan Agreement to which you are Matched as a Lender.

9.16. All of your Lending Commitments are visible to you within the My Account section of our Platform. Importantly, you can also view how much of your Lending Commitment is actually on loan on a real-time basis from within this section.

9.17. The Company may, in its absolute discretion, repay all amounts, together with accrued interest, that may be owing to you at any time pursuant to a Loan Agreement or a Lending Commitment without prior notice.

9.18. The Company may, in its absolute discretion, turn off the Auto-Matching System, and your interest in Loan Agreements will no longer be capable of transfer by assignment and you will no longer be Matched with new Lenders.

10. Holding Account

10.1 The Holding Account is provided as a temporary service to hold any money you wish to have cleared and ready when making Lending Commitments and any interest accruing on sums held in the Holding Account will be for the account of the Company and will not be paid to you.

10.2. The Holding Account is provided to the Lender as a convenience and it is not a service in its own right.

10.3. All money deposited by Lenders in the Holding Account is held in a segregated bank account and PCZL will hold all such money together with other money that it holds for other persons in the conduct of its activities (including other Lenders such as corporate). All such money is recognized as client money. When you enter into this Agreement you are deemed to consent to this arrangement.

10.4. Please note that we do not accept responsibility to you for the solvency of the bank at which the Holding Account is maintained.

11. Premature Withdrawal of Investment/Capital

11.1 The Lender shall select the investment tenure for which they desire their investment/capital to be held by the Company on the peer-to-peer lending platform at the registration stage.

11.2      The Lender shall not be able to request for a premature withdrawal of the investment/capital before the expiration of the investment tenure which would have been selected by the Lender during registration.

11.3     In reference to Clause 11.2 above, the Lender is encouraged to be very certain of the investment tenure that they select for their investment knowing that they will not be able to withdraw their investment before the expiration if this selected tenure.

12. Early Access Service

12.1 We offer an Early Access service for all Lending Commitments other than those which relate to a Thirty Day Product.

12.2. The Early Access service allows a Lender to gain immediate access to their money by requesting that the Company transfer their interest in a Loan Agreement to another Lender through the Auto-Matching System.

12.3. The Company will charge you an administration fee (which shall include an interest rate adjustment) for using the Early Access service. The charge and calculation methodology shall change from time to time, however the administration fee shall be fully disclosed to you at the time a request for Early Access is made.

12.4. If your Early Access request is processed, the money to which the Early Access request relates shall be returned to your Holding Account together with any accrued interest less the administration fee.

Payment in respect of the Early Access shall be made within 30 days from the date when the request for Early Access will have been made.

13. Interest Payment Policy

13.1 You shall start to accrue interest once you make a Lending Commitment regardless of whether you are Matched to a Loan Agreement or not. The rate of interest that will accrue on the amount of your Lending Commitment shall be that rate set out in the Product which comprises your Lending Commitment and shall not be the rate of interest set out in the Loan Agreement(s) to which you are Matched (which may be higher or lower than the rate(s) applicable to the Product(s) you select). For the avoidance of doubt, the Company shall not be acting as a deposit taker in such instances.

13.2. Accrued interest shall be paid directly to your Holding Account and such payments shall be made in accordance with the terms of the Products which comprise your Lending Commitment.

13.3 We will offer a buy-back guarantee, which means that if a loan is delinquent for more than 60 days, PremierCredit will buy back the investment at nominal value plus accrued interest.

14. Term and Termination

14.1 Except as otherwise terminated in accordance with the provisions below, these Terms shall commence on the date you register to open an account with the Company and shall remain valid and binding for as long as you have outstanding Loan Agreements or Lending Commitments.

14.2. These Terms may be superseded by any amended Terms in accordance with clause 26.2.

14.3. These Terms may be terminated by you provided that you have no outstanding Lending Commitments or Loan Agreements. Notice of termination must be provided in writing to the Company at its registered address and/or the following email address: investments@premiercredit.co.zm . The notice of termination shall only take effect 30 days after it shall have been provided and served on the Company.

14.4. These Terms may be terminated by the Company at any time without notice.

14.5. Upon termination, the Company will return any funds held in your Holding Account to the same bank account used to send the money to us unless you have notified us in writing of any change of bank account details. If you have any outstanding Lending Commitments or Loan Agreements, the Company shall treat the termination as an Early Access request and clause 12 shall apply to the early repayment of your funds before the end of the term of your Lending Commitment. Where termination has been made by the Lender, the administration fee and for Early Access per clause 12 shall be applied automatically to the Lender’s account. Where termination has been made by the Company, there shall be no fee applied to the Lender’s account as a result of Early Access and the Lender’s money shall be returned along with all paid interest and pro-rated accrued interest at the full advertised rate when first entering the Lending Commitment.

15. Lender Identification

15.1 As part of the account opening process, you will be asked to provide personal information about yourself. The Company will use this information to verify your identity using a number of electronic checks.

15.2. You agree that that we may pass your personal information to our Service Providers or any other recognized third-party company solely for the purposes of verifying your identity, performing anti-money laundering checks and fraud prevention.

15.3. We do not have to accept you as a Lender or accept any funds from you until we have satisfied ourselves, at our absolute discretion, that we have sufficient and appropriate information to accept you as a Lender. We do not have to give you any reason for rejecting or delaying an application from you.

16. Confidentiality

16.1 We offer anonymity to both Lenders and Borrowers. As a Lender, you will not be provided with the name or identity of the party to whom you have lent money. Similarly, your identity will not be revealed to a Borrower.

16.2. You agree not to make attempts to establish the identity of, or contact, any of the Company’s Lenders or Borrowers.

17. Tax

17.1. The Company does not provide any advice or guidance in relation to tax or otherwise and therefore we strongly recommended that you consult an independent financial advisor or tax advisor if you are unsure as to what your tax obligations are.

17.2. It is your responsibility to ensure that any tax liabilities which you incur (through interest earned on loans placed on the Platform or otherwise) are paid to the relevant taxation authority. We will not withhold any tax on your behalf except where required by law.

17.3. The Company shall have no liability in relation to any tax liabilities incurred by you.

18. Cookies

18.1 You confirm that you have read and understood our Cookie Policy which provides information and guidance relating to our use of Cookies, and which can be found at the following website address: www.premiercredit.co.zm

18.2. You also further acknowledge that the Company may amend this policy from time to time without notice.

19. Privacy

19.1 You confirm that you have read and understood the Company’s Privacy Policy which provides information on how we use and store the personal information that you provide to us, and which can be found at the following website address: www.premiercredit.co.zm

19.2. You also further acknowledge that the Company may amend and update this policy from time to time without notice.

20. Intellectual Property Rights

20.1 All Intellectual Property Rights in or arising out of or in connection with the Platform and the Services shall be owned by the Company.

20.2. The Lender acknowledges that, in respect of any third-party Intellectual Property Rights, the Lender’s use of any such Intellectual Property Rights is conditional on the Company obtaining a written license from the relevant licensor on such terms as will entitle the Company to license such rights to the Lender.

20.3. The Platform, the Website, and all Intellectual Property Rights are the exclusive property of the Company.

21. Protecting Company Information

21.1 All Information is owned by us or our Service Providers. You agree to use our Information only in accordance with these Terms.

21.2. You agree not to use our Information in a manner which would result in a material commercial gain, other than for the purposes of lending or borrowing through our Platform.

22. Indemnity

22.1 You agree to indemnify and hold harmless the Company, any Lender or Borrower, any employee or director of PCZL our Service Providers, and all our other agents or sub-contractors, against all liabilities, costs, expenses, damages and losses (including any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest penalties and legal and other reasonable professional costs and expenses) suffered or incurred as a result of:

(a) your fraudulent or illegal use of the Platform, the Services or the Website;

(b) your negligence or any default by you of any of these Terms or the terms of any Loan Agreement to which you are Matched;

(c) any inaccurate or information that you have knowingly provided to us;

(d) your allowing any other person to access your account either with your permission or as a result of your failure to keep your username and password private;

(e) any service that you have offered, whether with or without our permission, to another third party using our Platform, Services or Website;

(f) any moratorium, rescheduling, refinancing, suspension of payments or similar arrangement or circumstances applying to you and which restrict a Borrower’s ability to repay under a Loan Agreement;

(g) any claim made against you for actual or alleged infringement of the Company’s Intellectual Property Rights or any actual or alleged infringement of a third party’s Intellectual Property Rights arising out of or in connection with the Services or your use of the Platform; or

(h) any claim made against you for actual or alleged infringement of the Company’s Information Technology or any actual or alleged infringement of a third party’s Information Technology arising out of or in connection with the Services or your use of the Platform.

22.2. Nothing in this clause shall restrict or limit either party’s general obligation at law to mitigate a loss which it may suffer or incur as a result of a matter that may give rise to a claim under this clause 22.

22.3. Nothing in this clause shall restrict or limit either party’s general obligation at law to mitigate a loss which it may suffer or incur as a result of a matter that may give rise to a claim under this clause 22.

23. Limitation of Liability

23.1 Without limitation, neither the Company nor any directors, officers, employees, advisors, agents or Service Providers of the Company accept any liability whatsoever for any losses arising from the following circumstances:

(a) a Default Event (subject to clause 7.6 above);

(b) any Platform downtime or system outage;

(c) any decision by the Credit Approval Team;

(d) computer viruses, malware or errors received by you through the Platform;

(e) any tax payable by you;

(f) use of the Platform by a third party using your username and password as a result of your failure to keep such information confidential;

(g) any due diligence or credit checks carried out by us about you; and

(h) any failure to Match your Lending Commitment to a Borrower.

23.2. Nothing in these Terms shall limit or exclude the Company’s liability for fraud, negligence, death or personal injury.

24. Force Majeure Event

24.1 For the purposes of this clause, “Force Majeure Event” shall mean any circumstance outside the Company’s control including but not limited to any interruptions or failures relating to internet service providers, internet signal, connections, electricity providers, configurations of any Lender’s or Borrower’s computers, any acts of god, flood, drought, earthquake or other natural disaster, any collapse of buildings, fire, explosion or accident, any acts of terrorism, civil war or commotion, riots or any law or any action taken by a government or public authority, including, without limitation, the failure to grant a necessary license or consent.

24.2. The Company shall not be in breach of these Terms nor liable for delay in performing or failure to perform any of its obligations under these Terms if such delay or failure results from a Force Majeure Event.

25. Right of Set Off

We have the right to immediately, and without notice, set off any liability or debt that is owed by you to the Company.

26. General

26.1 These Terms and any dispute arising out of or in connection with their subject matter shall be governed by and construed in accordance with the laws of Zambia and the parties agree that the Zambian courts shall have exclusive jurisdiction to settle any dispute or claim arising in connection with these Terms.

26.2. The Company shall be permitted to make amendments to these Terms from time to time and shall notify you of such amendments in writing or by e-mail. You will be deemed to have accepted such amended Terms either by indicating your acceptance on the Platform or by making new Lending Commitments. For the avoidance of doubt, the Terms applicable at the time you make a Lending Commitment will not be amended for the duration of that Lending Commitment. Any further Lending Commitments which you make will be subject to the Terms in effect at that time.

26.3. You agree that the Company may assign its interest under these Terms to any third party without notice.

26.4. The Company’s rights and obligations under these Terms are personal to you which means that you cannot assign them to another party without the explicit prior written consent of an officer of the Company.

26.5. The Company may record all telephone calls and other communications for the purposes of security and training.

26.6. You understand that the Company will endeavor to be open on all Business Days. However, its offices and telephone lines will be closed on weekends and over Zambian public holidays. You further acknowledge that the Company will make reasonable efforts to ensure that the Platform is available continuously however that there may be instances where access to the Platform is restricted as a result of scheduled maintenance, technology failure or network failure.

26.7. If any section or element of these Terms is found to be unenforceable, in contradiction of any law, or illegal, such findings shall not affect the validity of the remainder of these Terms.

26.8. The Platform displays all statements relating to your account, which are available on demand. Should you require paper copies of statements to be sent to you, we will provide.

26.9. Any and all calculations carried out in relation to this agreement, the Platform and the Auto-Matching System shall be rounded to two or more decimal places.

26.10. The Company shall send all electronic communications to you by way of secure message within the Platform. You agree that any notifications sent using this facility within the Platform shall be deemed an acceptable form of written notification.

26.11. If the Company does not strictly apply its rights under these Terms at a specific time, it does not restrict the Company from applying them at any time in the future.

26.12. If the Company chooses to translate these Terms into another language at some point in the future, it does so for reference purposes only and the English version shall prevail.

26.13. The Company shall be under no obligation to provide a Lender with any information that is reported to any law enforcement agency. You agree to indemnify and hold harmless the Company against any losses or liabilities as a result of any obligation that the Company has in the delay of payments or transactions pending consent by/from any law enforcement agency. PCZL shall not be responsible to you or any third party for any loss or delay in the return of your money incurred as a result of any actions taken by any law enforcement agency.

26.14. PCZL shall not be responsible to you or any third party for any loss incurred as a result of any and legal requests/compliance obligations relating to the detection, investigation and prevention of financial crime. This may include:

(a) screening, intercepting and investigating any communication, application for services or any payment, whether sent to or by you or on your behalf;

(b) investigating the source of or intended recipient of money;

(c) combining customer information with other related information in the possession of PCZL; or

(d) making further enquiries as to the status of a relevant person or entity, whether they are subject to a sanctions regime, or confirming their identity or status.

26.15 Each of the provisions of this Agreement has been negotiated by the parties and drafted for the benefit of the parties, and accordingly the rule of construction that the contract shall be interpreted against or to the disadvantage of the party responsible for the drafting or preparation of the Agreement (i.e. the contra proferentem rule), shall not apply.

27. Complaints

27.1 In the event that you have a complaint, the Company will make every effort to rectify the problem as soon as practicably possible.

27.2. Please write to us making clear the details surrounding your complaint. You can send your complaint by e-mail to customercare@premiercredit.co.zm or by post to Customer Support, PCZL at P.O. Box 31159, Lusaka

27.3. We will endeavor to respond to you to acknowledge your complaint within 2 Business Days of receiving it. We will endeavor to provide a response to your complaint within 5 Business Days of receiving it.

27.4. If, having received our response, you are still dissatisfied, you can escalate your complaint to our Chief Executive Officer who will investigate the complaint personally and provide a final response to you within 10 Business Days.

Definitions

Lender’s account: any current account of the Lender specified on the Portal and/or Branch

1. Credit Line limit: the Loan Amount limit within which the Borrower may use a credit granted by the Lender
2. Loan Amount: received and outstanding credit amount received within the Credit Line limit by the Borrower
3. Full payment date of the Loan Amount: the date when the Borrower has to make full repayment of the Loan Amount
4. Borrower’s e-mail: the Borrower’s electronic mail address as specified in the Contract and/or Portal, where the Borrower is its only user
5. Borrower’s account: any current account of the Borrower specified in the Contract, Branch, calling from the Telephone number or in the Profile, or a current account, from which the Borrower has ever made a transfer to the Lender
6. Total amount to be paid to the Borrower: the amount which is calculated per the Cost of Business Regulations.
7. Contract: the present Loan Contract concluded between the Parties and any amendments and/or annexes thereto
8. Monthly Payment date: next payday date (and subsequent paydays in case of each rollover);
9. Cost of Business Regulations: The Banking and Financial Services (Cost of Borrowing) Regulations, 1995.
10. Late payment interest: contribution for delayed repayment of the Loan Amount at 0.5 % of the outstanding balance per day.
11. Cost of Business Regulations: The Banking and Financial Services (Cost of Borrowing) Regulations, 1995.
12. Portal: Lender’s website (currently having a domain name www.premiercredit.co.zm, where the Borrower is identified through the Profile and mutual communication and information exchange is taking place between the Parties
13. Potential Credit Line limit: The Loan Amount limit to which the Credit Line limit might be increased in the future at the discretion of the Lender.
14. Interest: consideration for use of the Loan Amount
15. Interest rate: interest rates which are liable to variation by the Lender in line with market conditions and any directives issued by the Bank of Zambia.
16. Profile: personal site of the Borrower on the Portal, available on the Portal after entry of the Borrower’s e-mail and password
17. Late payment interest: contribution for delayed repayment of the Loan Amount at 0.5 % of the outstanding balance per day.

Subject Matter of the Contract and Granting of the Loan Amount

19. The Lender shall grant the Credit Line limit to the Borrower, allowing for the Borrower repeatedly to request, to receive, and to use the Loan Amount during the validity of the Contract
20. The Borrower shall request a Loan Amount within the Credit Line limit at the desirable repayment term in the Branch, by calling from the Telephone number or through a Profile on the Portal
21. The Lender upon receipt of each request from the Borrower shall make amendments to Section II of the Contract and offer the same for a conclusion to the Borrower
22. The Borrower shall approve amendments offered by the Lender in Section II of the Contract in the Branch, by telephone from the Telephone number or through Profile on the Portal
23. The Lender in accordance with the direction of the Borrower, shall grant each Loan Amount in cash in the Branch or transfer the same to the Borrower’s account
24. The Borrower undertakes to repay the Lender each Loan Amount and pay Interest pursuant to the appropriate amount and time limit. With the consent of the Borrower and upon payment of the Extension Commission, the Borrower may extend the period within which to repay the Loan amount to the next Monthly Payment date.

Repayment and Payment of the Contractual Charges

25. The Borrower shall make contractual payments pursuant to the amount and within time limits specified under the Contract through transfer to the Lender’s account or in cash at the Branch
26. If the Borrower delays repayment of the Loan Amount and/or Interest, then Late Payment Interest shall be calculated for the delay with the repayment term of the Loan Amount from payment of the delayed part of the Loan Amount for each delayed day
27. If the Borrower does not inform the Lender of his/her intention to repay the loan repayment in full [3] days prior to the due date, it shall be deemed that the Borrower by default has agreed to a loan extension, from which the Lender will charge automatically an extension commission.
28. If the Loan repayment term has been extended, the Borrower during the Extension Period shall pay to the Lender only the Extension Commission, while payment of other contractual charges is postponed for the Extension Period
29. The Borrower prior to the date of full repayment of the Loan Amount may fully or partly comply with their contractual obligations for the time period until the use of the rights specified by the present Clause of the Contract
30. In the case of premature repayment of the Loan Amount the Lender shall repay the Commissions (with an exception for the Extension Commission) for the date of repayment of the Loan Amount actually not used

Rights and Obligations of the Parties. Other Provisions

31. The Borrower shall notify the Lender of changes to the Borrower’s information (including the Borrower’s e-mail, Telephone number, Borrower’s account) specified in the Contract, personal identity document, residential address or workplace within 5 working days by calling from the Telephone number, through Profile on the Portal or in the Branch
32. The Lender may request from the Borrower approval of the information change through telephone, by using the Telephone number, on the Portal, in the Branch, and/or otherwise. The Lender until that time may decline to grant the Loan Amount or decline to extend the repayment term of the Loan Amount
33. The Borrower’s identification and communication with the Borrower through telephone shall be binding on the Parties if the telephone conversation has taken place by using the Telephone number, and during which the Lender has been provided with the information required by it regarding the Contract. The Lender shall record such telephone conversations
34. The Borrower has an inactive Profile created on the Portal, which initial password has been sent to the Borrower’s e-mail or Telephone number. The Borrower’s identification and communication with the Borrower shall be binding for the Parties provided that the Borrower through Profile on the Portal will have approved the terms of usage of the Portal
35. The Lender may suspend or terminate the Borrower’s identification and/or communication with the Lender through telephone, by using the Telephone number, or through the Profile on the Portal and require that particular activity is made in the Branch. The Borrower will have no complaints against it
36. The Borrower in the Branch, by calling from a Telephone number or through Profile or Portal, may receive information regarding the Borrower’s contractual obligations free of charge. If the Borrower delays contractual charges for more than 10 days, the Lender may send a reminder, by deduction of the debt recovery expenditures
37. The Borrower’s payment not complying with the contractual provisions is not deemed to be received until the time of its identification. The Lender may determine a sequence where under the contractual obligations of the lender are extinguished
38. The Credit Line limit may be increased up to the Potential Credit Line limit at the Lender’s discretion, through assessment by the Lender of the Borrower’s ability to repay. The Lender may decline to increase the Credit Line limit or to reduce the same if in the discretion of the Lender, the solvency of the Borrower has changed
39. The Parties pursuant to the present Contract shall novate the Obligations of the Parties derived from the Loan Contract concluded between the Parties (if any has been concluded hitherto) as specified by Section I of the Contract shall be renovated pursuant to the present Contract by the Parties
40. The Borrower agrees that the Lender makes use of the Borrower’s e-mail and Telephone number for the purpose of sending commercial messages regarding the Lender or regarding third parties related to the Lender
41. The Lender may terminate the Contract and demand from the Borrower premature fulfilment of the contractual charges including the payment of the Loan and interest when 1) the Borrower has provided false information, or forged documents 2) the Borrower delays the time limits prescribed by the Schedule for more than 7 days, 3) significant circumstances which had constituted the basis for the conclusion of the Contract
42. If a dispute between the Parties is not resolved via negotiations, it shall be resolved by the Courts in Zambia.
43. The Lender may assign any of its rights under the Contract to another bank or financial institution or to a trust, fund or other entity without the prior consent of the Borrower
44. Where the Lender assigns its rights under this Contract, the Lender may disclose to third parties revenues, expenditures, credit history, gender, age, address and other information, but may not disclose given name, surname, personal identity number, contact information and image of the Borrower
45. In the event of an assignment, the Borrower will be notified by way of telephone (including text messages, by email or through the use of the Portal
46. The Borrower agrees to their data processing (including, upon receipt of the Loan application), and allows for the Lender to receive data regarding the Borrower from third parties and to hand over to them the data regarding the Borrower and the Contract in order to ascertain the Borrower’s obligations and to assess the Borrower’s solvency
47. The Lender may create the Borrower’s credit history regarding the Borrower’s liabilities and may deliver the data regarding the Borrower to other creditors of the Borrower (including future). Upon the Lender’s request, the Borrower has to submit within 7 days the documents regarding income and expenditures for a recent period
48. The Borrower acknowledges that where the Borrower defaults on his/her obligations under the Contract, the Lender will notify the credit reference agency of such default and the Borrower will be liable to have his/her account data retained by the credit reference agency until the expiry of seven (7) years.

Section I. Parties (Lender & Borrower)

Lender

• Premier Credit Zambia Limited
• Registration number: 120190002254
• Legal address: P.O. Box 31159, Lusaka-10101
• Actual address of the service provision: Stand No. 4, Second Floor, Office Block 2, Stand No. 7732, ECL Business Park, Kitwe

Borrower

• Client Registered on USSD to access Premier Credit Zambia Limited Loans

Section II. Key Provisions

1. Product Interest Rate

2. The Loan Amount, Interest and Contractual charges may be paid to the Lender by direct debit, or cash at the Branch, or through bank transfer, or via *559# Loan repayment, or Via Mobile Money under PremierCredit Loans for loan repayment service option. In case of the bank transfer to the Lender’s account, the Borrower should specify the following in the payment details:
   1. In the case of the Loan Amount and Interest: Loan repayment – (NRC No.), Contract Number; or
   2. In the case of extension: Extension – (NRC No.), Contract number; or
   3. In the case of other contractual charges: Other fees – (NRC No.), Contract number.
3. Details for making payment:
   1. Premier Credit Zambia Limited; Account Number: 0200161239429; Bank: Absa Bank Zambia Plc
   2. PremierCredit Zambia Limited; Mobile Money Account Number: 0772356222; Airtel Mobile Money Branch: Lusaka Business Centre
   3. Via e-commerce website at premiercredit.co.zm using your debit/credit card
   4. Via *559# under Loans, Loan repayment
   5. Via Mobile Money under PremierCredit Loans for loan repayment service option

PLEASE USE YOUR LOAN NUMBER OR NRC AS REFERENCE FOR PAYMENT

The Borrowers by Pressing one to Proceed on PremierCredit USSD loan facilities confirm that:

1. The information regarding the Borrower specified in Section I of the Contract is correct and true;
2. The Telephone number and the Borrower’s e-mail address indicated in Section I of the Contract may be used as the means of identification of the Borrower and as the means of communication with the Borrower, including, for the Borrower to request amendment of the Credit Line limit or granting of the Loan Amount, for the Lender to propose amendments in provisions of Section I or II of the Contract to the Borrower, for the Borrower to approve amendments in provisions of Section I or II of the Contract, and for the Lender to grant the Loan Amount to the Borrower to the current account specified in Section I of the Contract;
3. The Borrower has become cognizant with Key Provisions of Section I the Loan Amount provisions of Section II and General Provisions of Section III of the Contract, agrees with the same and is fully aware of their liabilities derived from the Contract (as well as of the obligation to pay the payments outstanding until this day);
4. The Borrower is legally capable to act and is not under the influence of alcoholic, narcotic, and/or psychotropic substances.

Section III. General

Definitions

1. Lender’s account: any current account of the Lender specified in Section I.
2. Credit limit: the Loan Amount limit specified by Section 2, within which the Borrower may use a credit granted by the Lender.
3. Loan Amount: received and outstanding credit amount as specified by Section 2, Received within the Credit Line limit by the Borrower.
4. Full payment date of the Loan Amount: the date specified by Section 2, When the Borrower has to make full repayment of the Loan Amount.
5. Borrower’s e-mail: the Borrower’s electronic mail address as specified in the Contract, where the Borrower is its only user.
6. Borrower’s account: any current account of the Borrower specified in the Contract, Branch, calling from the Telephone number or in the Profile, or a current account, from which the Borrower has ever made transfer to the Lender.
7. Total amount to be paid to the Borrower: the amount as specified by Section 2, Which is calculated in accordance with the Cost of Business Regulations.
8. Contract: the present Loan Contract concluded between the Parties and comprising Section I, Section II and any amendments and/or annexes thereto.
9. Monthly Payment date: next payday date (and subsequent paydays in case of each rollover).
10. Cost of Business Regulations: The Banking and Financial Services (Cost of Borrowing) Regulations, 1995.
11. Late payment interest: contribution for delayed repayment of the Loan Amount as specified by Section II, Clause 6 at 0.03 % of the outstanding balance per day.
12. Cost of Business Regulations: The Banking and Financial Services (Cost of Borrowing) Regulations, 1995.
13. Portal: Lender’s website (currently having a domain name www.premiercredit.co.zm, where the Borrower is identified through the Profile and mutual communication and information exchange is taking place between the Parties.
14. Maximum Credit limit: The Loan Amount limit specified by Section 2, to which the Credit Line limit might be increased in the future at the discretion of the Lender.
15. Interest: consideration for use of the Loan Amount.
16. Interest rate: interest rates specified by Section 2, which interest rates are liable to variation by the Lender in line with market conditions and any directives issued by the Bank of Zambia.
17. Profile: personal site of the Borrower on the Portal, available on the Portal after entry of the Borrower’s e-mail and password.
18. Late payment interest: contribution for delayed repayment of the Loan Amount as specified by Section 2, 0.03 % of the outstanding balance per day.

Subject-Matter of the Contract and Granting of the Loan Amount

19. The Lender shall grant the Credit limit to the Borrower, allowing for the Borrower repeatedly to request, to receive and to use the Loan Amount during the validity of the Contract.
20. The Borrower shall request a Loan Amount within the Credit limit at the desirable repayment term in the Branch, by calling from the Telephone number or through a Profile on the Portal.
21. The Lender upon receipt of each request from the Borrower shall make amendments to Section 2 of the Contract and offer the same for conclusion to the Borrower.
22. The Borrower shall approve amendments offered by the Lender in Section 2 of the Contract in the Branch, by telephone from the Telephone number or through Profile on the Portal.
23. The Lender in accordance with direction of the Borrower, shall grant each Loan Amount in cash in the Branch or transfer the same to the Borrower’s account.
24. The Borrower undertakes to repay to the Lender each Loan Amount and to pay Interest pursuant to the appropriate amount and time limit. The Borrower may, with the consent of the Borrower and upon payment of the Extension Commission, extend the period within which to repay the Loan amount to the next Monthly Payment date.

Repayment and Payment of the Contractual Charges

25. The Borrower shall make contractual payments pursuant to the amount and within time limits specified under the Contract through transfer to the Lender’s account or in cash at the Branch.
26. If the Borrower delays repayment of the Loan Amount and/or Interest, then Late Payment Interest shall be calculated for delay with the repayment term of the Loan Amount from payment of the delayed part of the Loan Amount for each delayed day.
27. If the Borrower does not inform the Lender of his/her intention to repay the loan repayment in full [3] days prior to the due date, it shall be deemed that the Borrower by default has agreed to a loan extension, from which the Lender will charge automatically an extension commission.
28. If the Loan repayment term has been extended, the Borrower during the Extension Period shall pay to the Lender only the Extension Commission, while payment of other contractual charges is postponed for the Extension Period.
29. The Borrower prior to the date of full repayment of the Loan Amount may fully or partly comply with their contractual obligations for the time period until use of the rights specified by the present Clause of the Contract.
30. In the case of premature repayment of the Loan Amount the Lender shall repay the Commissions (with exception for the Extension Commission) for the date of repayment of the Loan Amount actually not used.

Rights and Obligations of the Parties. Other Provisions.

31. The Borrower shall notify the Lender of changes to the Borrower’s information (including the Borrower’s e- mail, Telephone number, Borrower’s account) specified in the Contract, personal identity document, residential address or work place within 5 working days by calling from the Telephone number, through Profile on the Portal or in the Branch.
32. The Lender may request from the Borrower approval of the information change through telephone, by using Telephone number, on the Portal, in the Branch and/or otherwise. The Lender until that time may decline to grant the Loan Amount or decline to extend the repayment term of the Loan Amount.
33. The Borrower’s identification and communication with the Borrower through telephone shall be binding on the Parties if the telephone conversation has taken place by using the Telephone number, and during which the Lender has been provided with the information required by it regarding the Contract. The Lender shall record such telephone conversations.
34. The Borrower has inactive Profile created on the Portal, which initial password has been sent to the Borrower’s e-mail or Telephone number. The Borrower’s identification and communication with the Borrower shall be binding for the Parties provided that the Borrower through Profile on the Portal will have approved the terms of usage of the Portal.
35. The Lender may suspend or terminate the Borrower’s identification and/or communication with the Lender through telephone, by using the Telephone number, or through the Profile on the Portal and to require that particular activity is made in the Branch. The Borrower will have no complaints against it.
36. The Borrower in the Branch, by calling from Telephone number or through Profile or Portal, may receive information regarding the Borrower’s contractual obligations free of charge. If the Borrower delays contractual charges for more than 10 days, the Lender may send a reminder, by deduction of the debt recovery expenditures.
37. The Borrower’s payment not complying with the contractual provisions is not deemed to be received until the time of its identification. The Lender may determine a sequence whereunder contractual obligations of the Lender are extinguished.
38. The Credit Line limit may be increased up to the Potential Credit Line limit at the Lenders discretion, through assessment by the Lender of the Borrower’s ability to repay. The Lender may decline to increase the Credit Line limit or to reduce the same, if in the discretion of the Lender the solvency of the Borrower has changed.
39. The Parties pursuant to the present Contract shall novate the Obligations of the Parties derived from the Loan Contract concluded between the Parties (if any has been concluded hitherto) as specified by Section I of the Contract shall be renovated pursuant to the present Contract by the Parties.
40. The Borrower agrees that the Lender makes use of the Borrower’s e-mail and Telephone number for the purpose of sending commercial messages regarding the Lender or regarding third parties related to the Lender.
41. The Lender may terminate the Contract and demand from the Borrower premature fulfilment of the contractual charges including the payment of the Loan and interest, when 1) the Borrower has provided false information, or forged documents 2) the Borrower delays the time limits prescribed by the Schedule for more than 7 days, 3) significant circumstances which had constituted the basis for conclusion of the Contract.
42. If a dispute between the Parties is not resolved via negotiations, it shall be resolved by the Courts in Zambia.
43. The Lender may assign any of its rights under the Contract to another bank or financial institution or to a trust, fund or other entity without the prior consent of the Borrower.
44. Where the Lender assigns its rights under this Contract, the Lender may disclose to third parties revenues, expenditures, credit history, gender, age, address and other information, but may not disclose given name, surname, personal identity number, contact information and image of the Borrower.
45. In the event of an assignment, the Borrower will be notified by way of telephone (including text messages, by email or through the use of the Portal.
46. The Borrower agrees to their data processing (including, upon receipt of the Loan application), and allows for the Lender to receive data regarding the Borrower from third parties and to hand over to them the data regarding the Borrower and the Contract in order to ascertain the Borrower’s obligations and to assess the Borrower’s solvency.
47. The Lender may create the Borrower’s credit history regarding the Borrower’s liabilities, and may deliver the data regarding the Borrower to other creditors of the Borrower (including future). Upon the Lender’s request the Borrower has to submit within 7 days the documents regarding income and expenditures for a recent period.
48. The Borrower acknowledges that where the Borrower defaults on his/her obligations under the Contract, the Lender will notify the credit reference agency of such default and the Borrower will be liable to have his/her account data retained by the credit reference agency until the expiry of seven (7) years.

Terms and Conditions (Ka Fast-Fast)

1. SECTION I. Parties (Lender & Borrower)

1.1 Lender

Premier Credit Zambia Limited

Registration number: 120190002254

Legal address: P.O. Box 31159, Lusaka-10101

Actual address of the service provision: Unit 502 5th Floor Sun Share Tower, Stand No. LN_15584/1 Katima Mulilo Road, P. O. Box 31431 Lusaka, Zambia.

1.2 Borrower

Client Registered on the PremierCredit Platform

2. SECTION 2. DEFINITIONS

2.1. “Customer” means the person to whom the Mobile Money account or wallet belongs to and includes all his personal or legal representatives and assigns, also known as the borrower or the Applicant;
2.2. “Due Date” means the date communicated by PCZL by which the loan repayment falls due;
2.3. “Interest” means the price of loan calculated periodically, starting from the moment of loan disbursement, and charged to the customer at the moment of the loan repayment;
2.4. “Loan amount” means the volume of the cash that is lent to the Customer and disbursed to their mobile money account;
2.5. “Mobile Money Account” means the borrower’s account used to register on the premiercredit platform;

2.6. “PremierCredit Platform” means the web platform called Ka Fast-Fast where the borrower accesses the lending service for PCZL;

2.7. “Ka Fast-Fast” means the web lending service borrowers access from PCZL

2.8. “Network” means the mobile network operated by the borrower’s service provider;
2.9. “Personal Data” shall have the meaning of the definition as per data protection laws in Zambia;
2.10 “Privacy Policy” shall mean PCZL’s privacy policy which is available at www.premiercredit.co.zm;
2.11. “Overdue interest” means the amount charged to the Customer in case of failing to meet the Due date of repayment;
2.12. “Service(s)” means the provision of Micro Credit Loan services by PCZL to registered borrowers;
2.13. “Setup Fee” means the fee calculated for the provision of the Service at the moment of loan disbursement and charged at the moment of the loan repayment;
2.14. “Term” means time within which Customer agrees to repay loan;

2.15. “PCZL” means PremierCredit Zambia Limited, also known as the lender;

2.16. “Credit limit” means the Loan Amount limit within which the Borrower may use a credit granted by the Lender.

2.17. “Contract” means the present Loan Contract concluded between the Parties and comprising Section 1 through to Section 7 and any amendments and/or annexes thereto.

2.18. “Cost of Business Regulations” means the Banking and Financial Services (Cost of Borrowing) Regulations, 1995.

2.19. “Maximum Credit limit” means the Loan Amount limit which the Credit limit might be increased in the future at the discretion of the Lender.

2.20. “Interest rate” means the interest rates specified by Section 3, which interest rates are liable to variation by the Lender in line with market conditions and any directives issued by the Bank of Zambia.

2.21. “Late payment interest” means the contribution for delayed repayment of the Loan Amount as specified by Section 3, 0.5 % of the outstanding balance per day;

2.22. “Web” means website service.

3. SECTION 3. KEY PROVISIONS
4. Product Interest Rate inclusive of arrangement fees

One week loan          10%

Two-week loan         15%

Three-week loan      20%

One month loan       25%

Penalty for late payment per day 0.5%

2. The Loan Amount, Interest and Contractual charges may be paid to the Lender through the PCZL platform
3. The Credit Limit by default for all loan requests will be set at K100, and will increase subject to repayment pattern of the borrower, to a maximum of K3,000
4. The Loan Amount will be dependent on the borrower’s repayment pattern, all borrowers making their initial requests will be subjected to only borrow K100
5. The repayment date of the loan amount shall be communicated to the borrower at the time of the loan disbursement.

PLEASE ACCESS KA FAST-FAST FOR PAYMENT

The Borrowers by Pressing accept to Proceed on Ka Fast-Fast confirms that:

1. The information regarding the Borrower specified in Section 1 of the Contract is correct and true;
2. The Customer will be identified by their KYC, for which communication with the Borrower, including, for the Borrower to request amendment of the Credit limit or granting of the Loan Amount, for the Lender to propose amendments in provisions of Section 3 of the Contract to the Borrower, for the Borrower to approve amendments in provisions of Section 3 of the Contract, and for the Lender to grant the Loan Amount to the Borrower for their Airtel Money account specified in Section I of the Contract;
3. The Borrower has become cognizant with Key Provisions of Section 1 the Loan Amount provisions of Section 3 and the Provisions of Section 4 of the Contract, agrees with the same and is fully aware of their liabilities derived from the Contract (as well as of the obligation to pay the payments outstanding until this day);
4. The Borrower is legally capable to act and is not under the influence of alcoholic, narcotic, and/or psychotropic substances.
5. SECTION 4. PCZL LOAN APPLICATION, DISBURSEMENT & RECOVERY

4.1.  Ka Fast-Fast is available to Customers registered with PCZL;
4.2.  By subscribing to the Service, the Customer consents to the Terms and Conditions set out herein and the Privacy Policy;
4.3. Consent of the Customer shall commence upon an application/subscription for the Service and shall subsist throughout the period of subscription to the Service and shall only be vitiated by a written instruction from the Customer;
4.4.  For all intents and purposes, by subscribing to the Service and in the course of each transaction carried out under the Service, Customer unequivocally gives consent to the lender to collect, process (including profiling), share with third parties and with each other his/her personal data at any time for the purpose of providing, improving or upgrading the Service or the platform upon which the Service is hosted on the one hand and/or analyzing or assessing the credit viability or otherwise of his/her subscription;
4.5.  Personal Data includes and shall not be limited to Customer’s KYC. The Customer further consents to have his/her credit data processed by third parties and listed on the Credit Reference Bureau and acknowledges that an unpaid loan, listed as such, shall result in the retention of this information on the Bureau for a period of 7 years from the date of listing.
4.6.  An applicant for a loan under the Service must be eighteen (18) years old or over to qualify for a loan;
4.7.  To request the Service, Customer needs to access airtel money;
4.8.  Customer may accept or decline the loan offer. By pressing accept to proceed; customer consents to PCZL’s terms and conditions and consents to giving the Lender access to their KYC;
4.9.  Subject to approval of a loan application, Customer will be disbursed a loan of an amount to be determined by the PCZL at its sole discretion;
4.10.  Upon loan application approval, the loan shall be disbursed directly into Customer’s AIRTEL Money Account.
4.11.  PCZL reserves the right without assigning any reason to approve or decline any loan application;
4.12.  In case of a loan application approval, Customer will receive an SMS confirming:

4.12.1. the Loan Amount;
4.12.2. the Setup fee;
4.12.3. the Due Date.

4.13.  Customer shall repay the loan by the due date communicated at the time of the loan disbursement;

4.14.  The loan amount along with all fees and interests are automatically deducted from Customer’s Mobile Money account on the loan due date. Any outstanding amount that remains unpaid shall be deducted from funds deposited in Customer’s account until the full loan balance is repaid;
4.15.  By accepting the terms & conditions of the service, the Customer hereby authorizes PCZL to automatically debit their Mobile Money account to repay any outstanding debt;
4.16.  The Customer may choose to pay the Loan Amount on or before the due date by using the “Repay loan” option within the “Ka Fast-Fast” platform. In this event, the following fees will be charged, as per PCZL’s policy available at http://www.premiercredit.co.zm/;
4.17.  Customer shall repay the whole amount due (loan principal, fees and interest) using their Airtel Money Account;
4.18. In the event that the loan is not repaid, if the borrower holds an investment with PCZL, the outstanding fee will be collected from their Principal amount of their investment. if the borrower has no investment, then their wallet with PCZL will be earmarked until such a time that the debt is recovered;

4.19. In the event that funds cannot be recovered from the PCZL Wallet, the borrower consents that funds can be recovered from their payroll.

4.20.  In the event the Loan is still not repaid in full within the term communicated during the application process and upon loan approval, a grace period may be provided, but it is not mandatory;
4.21.  After the aforementioned grace period, if it takes place or in any other case after the term of repayment as communicated upon loan approval, any outstanding amount shall automatically be rolled over. The Overdue interest will be applied as communicated during the loan application process. Applicable fees and interests shall be communicated to the Customer additionally via SMS;
4.22.  In case the loan is not fully repaid after ninety (90) calendar days from the due date:

4.23. the Customer is notified by SMS that he/she in delinquency state;
4.24. the Customer is reported as a defaulter to the national Credit Bureaus;
4.25. Legal action may be taken to recover any outstanding amounts from the Customer;
4.26. Customer accepts that any debt may be recovered and off-set from his other bank accounts, deposits or digital wallets.

5. Section 5. Rights and Obligations of the Parties. Other Provisions.
   • Changes to the Borrowers KYC Shall be provided for by PCZL;
   • Changes to the borrower’s KYC shall be binding between the Parties;
   • The Borrower’s payment not complying with the contractual provisions is not deemed to be received until the time of its identification. The Lender may determine a sequence whereunder contractual obligations of the Lender are extinguished;
   • The Credit limit may be increased up to the Potential Credit limit at the Lenders discretion, through assessment by the Lender of the Borrower’s ability to repay. The Lender may decline to increase the Credit Line limit or to reduce the same, if in the discretion of the Lender the solvency of the Borrower has changed;
   • The Parties pursuant to the present Contract shall novate the Obligations of the Parties derived from the Loan Contract concluded between the Parties (if any has been concluded hitherto) as specified by Section I of the Contract shall be renovated pursuant to the present Contract by the Parties;
     • The Borrower agrees that the Lender makes use of the Borrower’s KYC details for the purpose of sending commercial messages regarding the Lender or regarding third parties related to the Lender;
     • The Lender may terminate the Contract and demand from the Borrower premature fulfilment of the contractual charges including the payment of the Loan and interest, when 1) the Borrower has provided false information, or forged documents 2) the Borrower delays the time limits prescribed by the Schedule for more than 7 days, 3) significant circumstances which had constituted the basis for conclusion of the Contract;
     • If a dispute between the Parties is not resolved via negotiations, it shall be resolved by the Courts in Zambia;
     • Where the Lender assigns its rights under this Contract, the Lender may disclose to third parties revenues, expenditures, credit history, gender, age, address and other information, but may not disclose given name, surname, personal identity number, contact information and image of the Borrower;
     • In the event of an assignment, the Borrower will be notified by way of telephone (including text messages, or by email;
     • The Borrower agrees to their data processing (including, upon receipt of the Loan application), and allows for the Lender to receive data regarding the Borrower from third parties and to hand over to them the data regarding the Borrower and the Contract in order to ascertain the Borrower’s obligations and to assess the Borrower’s solvency;
     • The Lender may create the Borrower’s credit history regarding the Borrower’s liabilities, and may deliver the data regarding the Borrower to other creditors of the Borrower (including future);
     • The Borrower acknowledges that where the Borrower defaults on his/her obligations under the Contract, the Lender will notify the credit reference agency of such default and the Borrower will be liable to have his/her account data retained by the credit reference agency until the expiry of seven (7) years.

6. EXCLUSION OF LIABILITY

6.1. Customer acknowledges to have no claim against PCZL or PCZL’s service providers for damages resulting from losses, delays, misunderstandings, duplications or any other irregularities in connection with the loan application or the use of a PCZL loan.

7. MISCELLANEOUS

7.1. By using the service, Customer unequivocally gives consent and authorizes PCZL to record, process and disclose his personal information/data to third party providers and competent authorities including but not limited to government agencies, the Central Bank, credit bureaus and other financial institutions for application assessment and fraud prevention;
7.2.  Any addition or alteration to these Terms and Conditions may be made from time to time by PCZL and of which notice has been given to the Customer by way of publication shall be binding, as if the same were contained in these Terms and Conditions or in the Privacy Policy. Customers are required to check the Terms and Conditions and the Privacy Policy before taking each loan;
7.3.  Customer consents to, and authorizes PCZL and its service providers to communicate the following to the Customer: Customer’s transactional activity, service messages, and offers for products or services via SMS;
7.4.  PCZL has no liability for transactions which are incorrect as a result of inaccurate data entry in the course of the use of the Service or for loss of data or information caused by factors beyond its control;
7.5.  By using the Service, the Customer agrees to the above mentioned terms and the security practices, policies and procedures as mentioned in the Privacy Policy;
7.6 The Customer has certain rights by law that cannot be limited by a contract like these Terms and Conditions, which in no way intend to restrict those rights;

7.7 In case of any grievance please be guided by the Privacy Policy or contact our Privacy Department with any questions or concerns at info@premiercredit.co.zm or at Unit 502 5th Floor Sun Share Tower, Stand No. LN_15584/1 Katima Mulilo Road, P. O. Box 31431 Lusaka, Zambia.

8. GOVERNING LAW

8.1. Customer agrees that all matters relating to his access to or use of the Service shall be governed in accordance with the Laws of the Republic of Zambia.

TERMS AND CONDITIONS FOR SALARY ADVANCE LOANS

The client is advised to carefully read and understand the following Terms and Conditions before accepting the Salary Advance Loan.

The following Terms and Conditions are in addition to and not in derogation from the PremierCredit Consumer Loan Contract hereby executed/signed by the client which Consumer Loan Contract must be read together herewith.

1. These Terms and Conditions are between PremierCredit Zambia Limited (hereinafter referred to as “the Lender”) and end-user clients (hereinafter referred to as “the Borrower”) who desire to access the PremierCredit Salary Advance Loans.

2. The said Terms and Conditions apply only to Borrowers who wish to access the PremierCredit Salary Advance Loans where the collection of funds for repayments are made via the Borrower’s Debit and Credit Card.

3. By accepting these Terms and Conditions, the Borrower agrees to provide the Lender with sufficient and correct/accurate details of their Salary Bank Account. For purposes of these Terms and Conditions, the “Salary Bank Account” is defined as the bank account in which the Borrower receives their monthly salary from their full-time employment.

4. By accepting these Terms and Conditions, the Borrower further agrees to provide the Lender with sufficient and correct/accurate details of their Debit or Credit Card which is connected or synced to the said Salary Bank Account described above. The Lender shall not accept Debit or Credit Card details for a bank account other than the Salary Bank Account.

5. Further, by accepting these Terms and Conditions, the Borrower also agrees and commits to promptly update their Salary Bank Account information with the Lender in case of any changes to the said bank account or the corresponding Debit or Credit Card. The update described here must be done within 24 hours of the change by either calling the official Customer Care line of the Lender which is +260 211 372784or, by visiting any of the Lender’s official branches to inform the Branch Manager.

6. The confirmation of the Borrower’s Salary Bank Account details, either at inception or at the instance of change, shall be made by way of Introductory Letter signed and stamped by the Human Resource Manager from the Borrower’s full-time place of employment or by the person equivalent to the Human Resource Manager.

7. The said Introductory Letter described above shall further include information on whether the Borrower is a confirmed employee; what the tenure of the Borrower’s Employment Contract is; the time frame of the Employment Contract that has already been served by the Borrower; the Borrower’s Salary Payment Date for that month and; whether or not the said Borrower is facing any Disciplinary proceedings or the equivalent proceedings with their employer.

8. As the primary mode of collection, the Borrower hereby authorizes the Lender to automatically bill and deduct the Once-Off Loan Repayment Amount from the said Debit or Credit Card. For purposes of these Terms and Conditions, the “Once-Off Loan Repayment Amount”shall consist of the Principal Amount borrowed, the fixed monthly interest rate of 20% and, any other contractual charges as per the Consumer Loan Contract executed between the Lender and the Borrower.

9. As a secondary mode of collection, all Borrowers must sign a DDACC Form at onboarding stage which gives the Lender the right to withdraw the Once-Off Repayment Amount directly from the Borrower’s Salary Bank Account in case the Debit or Credit card is blocked or no longer in use.

10. The deduction from the Debit or Credit Card shall be implemented in such a way that once the loan application is successful and the Net Loan amount is disbursed, the Lender’s system will earmark the agreed upon Once-Off Loan Repayment Amount on the Borrower’s Debit or Credit Card in order to deduct the said exact amount from the Card on the Borrower’s Salary Payment Date of the month or any other date before or after this date.

11. The Borrower must take note of the fact that, once the exact equivalent of the Once-Off Loan Repayment Amount is detected on the Borrower’s Debit or Credit Card, the Lender’s system shall automatically deduct the said amount even if it is before or after the Borrower’s Salary Payment Date.

12. The Borrower need not initialize the deduction, the Lender’s system shall sniff for the Once-off Loan Repayment Amount until the Borrower’s Once-Off Loan Repayment Amount owed is settled or paid off by way of deduction from the Card by the Lender’s system.

13. Should the Borrower have any dispute on the Once-Off Loan Repayment Amount deducted by the Lender, the Borrower must notify the Lender within Five (5) days after the date of this deduction.

14. Where a Borrower fails to settle the Once-Off Loan Repayment Amount as far as seven (7) days past the stated Salary Payment Date, the Lender shall be at liberty to seek any form of legal recourse against the Borrower and to list the Borrower as a delinquent client on the Credit Reference Bureau (CRB). Premier Credit reserves the right to report any delinquent Borrowers to the Credit Reference Bureau (CRB).

15. In the event of default by the Borrower, the Lender shall be at liberty torestructure the repayments to a lesser amount on the Borrower’s Card or even their Salary Bank Account as part payment towards settling the Borrower’s outstanding Loan Repayment Amount at any point and without consent from the Borrower.

16. Clause 14 above shall further apply to instances where the Borrower manages to divert funds from the Salary Bank Account before the Lender’s system can deduct or, where the Borrower changes or blocks the Salary Bank Account and/or Debit or Credit Card without informing the Lender good in time.

17. The Lender reserves the right to terminate this agreement with the Borrower for reasons including but not limited to non-payment or breach of these Terms and Conditions.

18. The Borrower fully agrees to comply with all applicable laws and regulations related to loan deductions, loan agreement and debit card usage.

19. The Lender may communicate important information related to the Loan Agreement, loan deduction and other related matters via email, SMS, direct calls or other agreed-upon communication channels.

20. While the Lender will safeguard data provided for loan and deduction processes, the Borrower is also responsible for safeguarding their Debit and Credit Card information, which includes usernames, passwords, and other credentials used on their Salary Bank Account. The Lender shall handle all Borrower information and financial data in accordance with Zambian privacy laws and regulations.

21. The terms and conditions will be governed by the laws of Zambia and any disputes will be subject to the exclusive jurisdiction of the courts in Zambia.

NASOVA KAFAST Terms and Conditions

• SECTION I. Parties (Lender & Borrower)

1.1 Lender

Premier Credit Zambia Limited

Registration number: 120190002254

Legal address: P.O. Box 31159, Lusaka-10101

Actual address of the service provision: Stand No. 4, Second Floor, Office Block 2, Stand No. 7732, ECL Business Park, Kitwe

1.2 Borrower

Client Registered on Airtel money to access NASOVA KAFAST Loan

• SECTION 2. DEFINITIONS

2.1. “Customer” means the person to whom the airtel Mobile Money account or wallet belongs to and includes all his personal or legal representatives and assigns, also known as the borrower or the Applicant;
2.2. “Due Date” means the date communicated by PCZL by which the loan repayment falls due;
2.3. “Interest” means the price of loan calculated periodically, starting from the moment of loan disbursement, and charged to the customer at the moment of the loan repayment;
2.4. “Loan amount” means the volume of the cash that is lent to the Customer and disbursed to their airtel money account;
2.5. “Mobile Money Account” means airtel money;
2.6. “Mobile Money Account Usage Data” means the transactional data as produced from the Customer’s interaction with airtel money;
2.7. “airtel money” IS ADULY LICENSED TO PERFORM MONEY TRANSFER SERVICES IN ZAMBIA;

2.8. “Network” means the mobile network operated by AIRTEL;
2.9. “Personal Data” shall have the meaning of the definition as per data protection laws in Zambia;
2.10 “Privacy Policy” shall mean PCZL’s privacy policy which is available at www.premiercredit.co.zm;
2.11. “Overdue interest” means the amount charged to the Customer in case of failing to meet the Due date of repayment;
2.12. “Service(s)” means the provision of Micro Credit Loan services by PCZL to Mobile wallet holders via airtel money;
2.13. “Setup Fee” means the fee calculated for the provision of the Service at the moment of loan disbursement and charged at the moment of the loan repayment;
2.14. “Term” means time within which Customer agrees to repay loan;

2.15. “PCZL” means PremierCredit Zambia Limited, also known as the lender;

2.16. “Credit limit” means the Loan Amount limit THAT CAN BE LENT TO THE BORROWER BY THE LENDER

2.17. “Contract” means the present Loan Contract concluded between the Parties and comprising Section 1 through to Section 7 and any amendments and/or annexes thereto.

2.18. “Cost of Business Regulations” means the Banking and Financial Services (Cost of Borrowing) Regulations, 1995.

2.19. “Maximum Credit limit” means the Loan Amount limit which the Credit limit might be increased in the future at the discretion of the Lender.

2.20. “Interest rate” means the interest rates specified by Section 3, which interest rates are liable to variation by the Lender in line with market conditions and any directives issued by the Bank of Zambia.

2.21. “Late payment interest” means the contribution for delayed repayment of the Loan Amount as specified by Section 3, 0.03 % of the outstanding balance per day.

• SECTION 3. KEY PROVISIONS

• Product Interest Rate

One week loan 6%

Two-week loan 11%

Three-week loan 14%

One month loan 17%

Penalty for late payment per day 0.03%

• The Loan Amount, Interest and Contractual charges SHALL be paid to the Lender through Airtel Money
• The Credit Limit by default for all loan requests will be set at K50.00, and will increase subject to repayment pattern of the borrower, to a maximum of K3,000.00
• The Loan Amount will be dependent on the borrower’s repayment pattern, all borrowers making their initial requests will be subjected to only borrow K50.00
• The repayment date of the loan amount shall be communicated to the borrower at the time of the loan disbursement.

The Borrowers by Pressing one to Proceed on PremierCredit USSD loan facilities confirm that:

• The Borrower has become cognizant with Key Provisions of Section 1 the Loan Amount provisions of Section 3 and the Provisions of Section 4 of the Contract, agrees with the same and is fully aware of their liabilities derived from the Contract (as well as of the obligation to pay the payments outstanding until this day);

• SECTION 4. PCZL LOAN APPLICATION, DISBURSEMENT & RECOVERY

4.1.  THE SERVICES  ARE available to Customers holding an airtel Money Account;
4.2.  By subscribing to the Service, the Customer consents to the Terms and Conditions set out herein and the Privacy Policy;
4.3. Consent of the Customer shall commence upon an application/subscription for the Service and shall subsist throughout the period of subscription to the Service;
4.4.  For all intents and purposes, by subscribing to the Service and in the course of each transaction carried out under the Service, Customer unequivocally gives consent to the lender to collect, process (including profiling), share with third parties and with each other his/her personal data at any time for the purpose of providing, improving or upgrading the Service or the platform upon which the Service is hosted on the one hand and/or analyzing or assessing the credit viability or otherwise of his/her subscription;
4.5.  Personal Data includes and shall not be limited to Customer’s KYC (such as Date of birth, ID type, ID number, gender, home address, MSISDN), airtime usage and/or Customer’s AIRTEL Money Account Usage. The Customer further consents to have his/her credit data processed by third parties and listed on the Credit Reference Bureau and acknowledges that an unpaid loan, listed as such, shall result in the retention of this information on the Bureau for a period of 7 years from the date of listing.
4.6.  An applicant for a loan under the Service must be eighteen (18) years old or over to qualify for a loan;
4.7.  To request the Service, Customer needs to access airtel money;
4.8.  Customer may accept or decline the loan offer. By pressing 1 to proceed; customer consents to KAFAST’s terms and conditions and consents to giving the Lender access to their KYC;
4.9.  Subject to approval of a loan application, Customer will be disbursed a loan of an amount to be determined by the PCZL at its sole discretion;
4.10.  Upon loan application approval, the loan shall be disbursed directly into Customer’s AIRTEL Money Account.
4.11.  PCZL reserves the right to determine customer eligibility for a loan;
4.12.  Customer will receive an SMS confirming:

4.12.1. the Loan Amount;
4.12.2. the loan amount due;
4.12.3. the Due Date.

4.13.  Customer shall repay the loan by the due date communicated at the time of the loan disbursement;

4.14.  The loan amount along with all fees will not be  automatically deducted from Customer’s AIRTEL Money account on the loan due date.;
4.15.  All loan repayments shall be customer initiated;
4.16.  The Customer may choose to pay the Loan Amount on or before the due date by using the “Repay loan” option within the “NASOVA KAFAST Loan” menu on AIRTEL Money.;
4.17.  Customer shall repay the loan amount due  using their Airtel money account, on the Airtel Money Menu;
4.18.  In the event that the Loan is not repaid in full within the term communicated;
4.19.  After the aforementioned grace period, if it takes place or in any other case after the term of repayment as communicated upon loan approval, any outstanding amount shall automatically be rolled over. The Overdue interest will be applied as communicated during the loan application process. Applicable fees and interests shall be communicated to the Customer additionally via SMS;
4.20.  In case the loan is not fully repaid after ninety (90) calendar days from the due date:

4.21. the Customer is notified by SMS that he/she in delinquency state;
4.22. the Customer is reported as a defaulter to the national Credit Bureaus (CRB);
4.23. Legal action may be taken to recover any outstanding amounts from the Customer;
4.24. Customer accepts that PCZL will recover any debt owed using means as provided for by the law, including use of debt recovery agents.

• Section 5. Rights and Obligations of the Parties. Other Provisions.

• • Changes to the Borrowers KYC Shall be provided for by Airtel Money to the Lender;
  • changes to the borrower’s KYC shall be binding between the Parties;
  • All obligations shall settled as and when the borrower repays in full their outstanding obligation;
  • The Credit limit may be increased up to the Potential Credit limit at the Lenders discretion, through assessment by the Lender of the Borrower’s ability to repay. The Lender may decline to increase the Credit Line limit or to reduce the same, if in the discretion of the Lender the solvency of the Borrower has changed;
  • The Parties pursuant to the present Contract shall novate the Obligations of the Parties derived from the Loan Contract concluded between the Parties (if any has been concluded hitherto) as specified by Section I of the Contract shall be renovated pursuant to the present Contract by the Parties;
    
    • The Borrower agrees that the Lender makes use of the Borrower’s KYC details for the purpose of sending commercial messages regarding the SERVICES;
    • The contract shall remain valid until such a time that the loan is fully repaid, and there are no disputes ARRISING;
    • If a dispute between the Parties is not resolved via negotiations, it shall be resolved by the Courts in Zambia;
    • Where the Lender assigns its rights under this Contract, the Lender may disclose to third parties, gender, age, address and other information;
    • In the event of an assignment, the Borrower will be notified by way of text messages or through the use of Airtel Money;
    • The Borrower agrees to the PROCESSING OF their personal data  ( upon ACCEPTING THESES TERMS AND CONDITIONS FOR THE SERVICES), and allows for the Lender to receive data regarding the Borrower from airtel and airtel money in order to ascertain the Borrower’s obligations and to assess the Borrower’s solvency;
    • The Borrower acknowledges that where the Borrower defaults on his/her obligations under the Contract, the Lender will notify the credit reference agency of such default and the Borrower will be liable to have his/her account data retained by the credit reference bureau until the expiry of seven (7) years.

6. EXCLUSION OF LIABILITY

6.1. Customer acknowledges to have no claim against PCZL or Airtel Mobile Commerce for damages resulting from losses, delays, misunderstandings, duplications or any other irregularities in connection with the loan application or the use of a NASOVA KAFAST loan.

7. MISCELLANEOUS

7.1. By using the service, Customer unequivocally gives consent and authorizes PCZL to record, process and disclose his personal information/data to third party providers and competent authorities including but not limited to government agencies, the Central Bank, credit bureaus and other financial institutions for application assessment and fraud prevention;
7.2.  Any addition or alteration to these Terms and Conditions may be made from time to time by PCZL and of which notice has been given to the Customer by way of publication shall be binding, as if the same were contained in these Terms and Conditions or in the Privacy Policy. Customers are required to check the Terms and Conditions and the Privacy Policy before taking each loan;
7.3.  Customer consents to, and authorizes PCZL and Airtel Mobile Commerce to communicate the following to the Customer: Customer’s transactional activity, service messages, and offers for products or services via SMS;
7.4.  PCZL has no liability for transactions which are incorrect as a result of inaccurate data entry in the course of the use of the Service or for loss of data or information caused by factors beyond its control;
7.5.  By using the Service, the Customer agrees to the above mentioned terms and the security practices, policies and procedures as mentioned in the Privacy Policy;
7.6 The Customer has certain rights by law that cannot be limited by a contract like these Terms and Conditions, which in no way intend to restrict those rights;

7.7 In case of any grievance please be guided by the Privacy Policy or contact our Privacy Department with any questions or concerns at info@premiercredit.co.zm or at

Unit 502 5th Floor Sun Share Tower, Stand No. LN_15584/1 Katima Mulilo Road, P. O. Box 31431 Lusaka, Zambia.

8. GOVERNING LAW

8.1. Customer agrees that all matters relating to his access to or use of the Service shall be governed in accordance with the Laws of the Republic of Zambia.

Privacy Policy for PremierCredit Zambia Limited

At PremierCredit, accessible from https://www.premiercredit.co.zm, one of our main priorities is the privacy of our visitors. This Privacy Policy document contains types of information that is collected and recorded by PremierCredit and how we use it.

If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us.

This Privacy Policy applies only to our online activities and is valid for visitors to our website and apps with regards to the information that they shared and/or collect in PremierCredit. This policy is not applicable to any information collected offline or via channels other than this website or our Mobile App.

Consent

By using our website, you hereby consent to our Privacy Policy and agree to its terms.

Information we collect

The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we ask you to provide your personal information.

If you contact us directly, we may receive additional information about you such as your name, email address, phone number, the contents of the message and/or attachments you may send us, and any other information you may choose to provide.

When you register for an Account, we may ask for your contact information, including items such as name, company name, address, email address, and telephone number.

How we use your information

We use the information we collect in various ways, including to:

• Provide, operate, and maintain our website/app.
• Improve, personalize, and expand our website/app
• Understand and analyze how you use our website/app
• Develop new products, services, features, and functionality
• Communicate with you, either directly or through one of our partners, including for customer service, to provide you with updates and other information relating to the website/app, and for marketing and promotional purposes
• Send you emails
• Find and prevent fraud

Log Files

PremierCredit follows a standard procedure of using log files. These files log visitors when they visit websites/apps. All hosting companies do this and a part of hosting services' analytics. The information collected by log files include internet protocol (IP) addresses, browser type, Internet Service Provider (ISP), date and time stamp, referring/exit pages, and possibly the number of clicks. These are not linked to any information that is personally identifiable. The purpose of the information is for analyzing trends, administering the site, tracking users' movement on the website/app, and gathering demographic information.

Cookies and Web Beacons

Like any other website, PremierCredit uses "cookies". These cookies are used to store information including visitors' preferences, and the pages on the website that the visitor accessed or visited. The information is used to optimize the users' experience by customizing our web page content based on visitors' browser type and/or other information.

Advertising Partners Privacy Policies

You may consult this list to find the Privacy Policy for each of the advertising partners of PremierCredit.

Third-party ad servers or ad networks uses technologies like cookies, JavaScript, or Web Beacons that are used in their respective advertisements and links that appear on PremierCredit, which are sent directly to users' browser. They automatically receive your IP address when this occurs. These technologies are used to measure the effectiveness of their advertising campaigns and/or to personalize the advertising content that you see on websites that you visit.

Note that PremierCredit has no access to or control over these cookies that are used by third-party advertisers.

Third Party Privacy Policies

PremierCredit's Privacy Policy does not apply to other advertisers or websites/apps. Thus, we are advising you to consult the respective Privacy Policies of these third-party ad servers for more detailed information. It may include their practices and instructions about how to opt-out of certain options.

You can choose to disable cookies through your individual browser options. To know more detailed information about cookie management with specific web browsers, it can be found at the browsers' respective websites.

CCPA Privacy Rights (Do Not Sell My Personal Information)

Under the CCPA, among other rights, California consumers have the right to:

Request that a business that collects a consumer's personal data disclose the categories and specific pieces of personal data that a business has collected about consumers.

Request that a business delete any personal data about the consumer that a business has collected.

Request that a business that sells a consumer's personal data, not sell the consumer's personal data.

If you make a request, we have one month to respond to you. If you would like to exercise any of these rights, please contact us.

GDPR Data Protection Rights

We would like to make sure you are fully aware of all of your data protection rights. Every user is entitled to the following:

The right to access – You have the right to request copies of your personal data. We may charge you a small fee for this service.

The right to rectification – You have the right to request that we correct any information you believe is inaccurate. You also have the right to request that we complete the information you believe is incomplete.

The right to erasure – You have the right to request that we erase your personal data, under certain conditions.

The right to restrict processing – You have the right to request that we restrict the processing of your personal data, under certain conditions.

The right to object to processing – You have the right to object to our processing of your personal data, under certain conditions.

The right to data portability – You have the right to request that we transfer the data that we have collected to another organization, or directly to you, under certain conditions.

If you make a request, we have one month to respond to you. If you would like to exercise any of these rights, please contact us.

Children's Information

Another part of our priority is adding protection for children while using the internet. We encourage parents and guardians to observe, participate in, and/or monitor and guide their online activity.

PremierCredit does not knowingly collect any Personal Identifiable Information from children under the age of 13. If you think that your child provided this kind of information on our website, we strongly encourage you to contact us immediately and we will do our best efforts to promptly remove such information from our records.

Changes to This Privacy Policy

We may update our Privacy Policy from time to time. Thus, we advise you to review this page periodically for any changes. We will notify you of any changes by posting the new Privacy Policy on this page. These changes are effective immediately, after they are posted on this page.

Contact Us

If you have any questions or suggestions about our Privacy Policy, do not hesitate to contact us.