Updated:- 19/07/23

The Lender and Client, hereafter, shall each be referred to as "Party" and both as "Parties".

Whereas:

(a) The Lender is engaged in the business of money lending. All applications relating to loans that may be obtained from the Lender are exclusively made, approved and loan amounts transmitted electronically.

(b) Subject to the terms of this Agreement hereafter set out, the Client has voluntarily agreed to explore the online resources and services of the Lender with the option of applying for a loan.

Scope of Agreement:

This Agreement sets out the terms and conditions that will govern the relationship between the Lender and the Client on accessing the online resources and/or services of the Lender. The said terms and conditions shall apply to the Client whether or not the Client applies for a loan from the Lender.

Conditions Precedent:

(a) The Client shall be a person of over 18 years and must have legal capacity to enter into this Agreement.

(b) The Client is literate and shall personally access the Lender's online services and/or resources. Where the Client opts to apply for a loan from the Lender, the said application shall be personally initiated and concluded by the Client.

Loan Application

Where the Client opts to apply for a loan from the Lender using the latter's online resources:

(a) The Client shall correctly and fully complete all requisite loan application form(s) to be hereafter presented by the Lender.

(b) Upon approval of the Client's loan application, the Lender shall disburse the loan amount ("Loan") subject to the Client reviewing and accepting a loan Pre-Agreement Statement and the Loan Agreement.

(c) The Lender shall reserve the right to, in its sole discretion, terminate the Client's loan application process any time before the acceptance of the Loan Agreement to be hereafter presented. The Lender shall also reserve the right, in its sole discretion, to cancel the Loan Agreement if it is unable to disburse the Loan due to inaccurate bank/mobile account details provided by the Client or due to a system failure on the part of the Client's bank or relevant telecommunication company or due to any other reason attributable to a third party unrelated to the Lender. Upon such termination or cancellation, the Lender shall in no way be liable to the Client for any loss or damage deriving from the said termination.

(d) The Loan, along with any capitalized fees (together, referred to as the "Principal") shall attract a daily interest rate specified in the Loan Agreement, computed as simple interest, hereinafter referred to as the "Interest" for the period specified in the Repayment Schedule of Loan Agreement.

(e) The Principal shall become due in full, together with the Fees and Interest payable (together, referred to as "Repayment Amount"), on the dates set out in the Repayment Schedule of the Loan Agreement.

(f) The Client shall be responsible for ensuring the Repayment Amount is paid to the Lender by the Due Date. Any payment actually received by the Lender after the Due Date, even if initiated and completed by the Client (but not received by the Lender) before the Due Date may constitute a late payment at the sole discretion of the Lender. The Lender only accepts the electronic forms of payments indicated on your loan application form to be completed hereafter or as provided on the Lender's official website.

(g) The Lender shall initiate a transfer to the Client of the Loan Amount by means specified by the Client in the loan application form to be completed hereafter. The Lender reasonably expects the transfer to be received by the Client's specified bank/mobile account no later than one business day following the date on which the Loan Agreement is accepted by the Client, which date shall hereafter be referred to as the "Effective Date". In the case of Mobile Money, the Lender reasonably expects the transfer to be received no later than the Effective Date.

(h) Where the Client does not receive the Loan Amount in his account within the respective periods hereinbefore stated, the Client shall notify the Lender the non-receipt by the close of business of the third (3rd) business day following the Effective Date of the Loan Agreement. Such notification must be done in person at the Lender's branch address or via email to info@guaranteedpaydayloans.ca, or by contacting our customer support phone number

(i) Upon receiving such notification as specified in 3(h), the Lender reserves the right to request evidence proving the Client's claims and can choose to make changes to the Loan Repayment Schedule at the Lender's sole discretion.

(U) The Client may be required to complete an irrevocable direct debit mandate form, formally instructing the Client's bank or Mobile Money operator to transfer to the Lender's advised account the repayments until the Principal, Fees, and all Interest accrued thereon are fully paid off. Where the debit mandate is utilized by the Lender, the mandate shall lapse upon the Lender receiving all amounts due and owing under the Loan Agreement.

(k) The Lender shall be responsible for verifying receipt of the Client's repayment and notifying the Client if repayment has not been made. The said notification may be via any of the following methods: direct communication with Client, phone call to Client, text message to Client, email to the client or Client's status as presented within the Lender's mobile application or through any social media platform.

(I) Any unpaid amount, comprising the Principal (or part thereof), Fees and the accrued interest thereon (or part thereof) after each Due Date shall be treated as a principal amount and will attract a flat penalty fee and daily penalty rate for each day that the amount remains unpaid after the Due Date, until the Client pays the outstanding balance in full.

(m) The Client may only have one Loan Agreement outstanding at a time. Where a Client breaches this provision, the Lender shall reserve the right, in its sole discretion, to terminate the Loan Agreement, whereupon, the Lender shall not in any way be liable to the Client for such termination. All losses and damages suffered by the Lender before, during and after the said termination shall wholly be borne by the Client.

(n) In the event of bankruptcy of the Client, this Agreement shall lapse and any amounts payable by the Client or due to the Lender hereunder shall become immediately due and payable in full.

(o) In the event of force majeure, which includes war, civil insurrection, natural disasters or any other event which is legally accepted as a force majeure event, which prevents the Client from fulfilling his/her repayment obligations under this Agreement (hereinafter referred to as the "Force Majeure Event"), the interest accrual on the outstanding Loan balance shall be suspended for the duration of the Force Majeure Event provided that the Client formally notifies the Lender about the occurrence of the Force Majeure Event within ten (10) business days of the occurrence of the Force Majeure Event. The Lender shall have the right to determine whether a force majeure event notified by the Client qualifies as a Force Majeure Event for the purposes of this Agreement. Where the Lender does not accept that an event notified by the Client qualifies as a Force Majeure Event, the Lender shall formally notify the Client accordingly and, in such event, the obligations of the Client under this Agreement shall continue unabated.

End-User License

#1. This End-User License Clause (referred to as the "License Agreement" for the purpose of this clause) governs your use of the mobile banking application ("Application") used to access the online lending service (the "Online Service") of Fido Micro Credit LTD (referred to as the "Licensor" for the purpose of this clause). This License Agreement is a legal agreement between you and the Licensor. By installing, copying or otherwise using the Application, you agree to be bound by the terms of this License Agreement.

#2. The Licensor hereby grants you a non-exclusive, non-transferable, limited personal license to install and use the Application on your mobile device for your personal use and only to access the Online Service. Such installation must occur in the Republic of Ghana. You will not, and will not allow or cause any third party to: (a) decompile, reverse engineer, disassemble, attempt to derive the source code of, or modify the Application, or use the Application to develop functionally similar Applications; (b) copy the Application, except as expressly permitted by this Agreement; (c) sublicense, distribute, export or resell the Application or otherwise transfer any rights; (d) remove any proprietary or intellectual property rights notices or labels on the Application; or (e) otherwise exercise any other right to the Application not expressly granted in this License Agreement.

Data Retention

In accordance with Section 32 of the Anti-Money Laundering Act, 2020 (Act 1044), the Lender is required to maintain records of your transactions for a period of at least five (5) years. In compliance with this provision, you agree that the Lender may keep records of your transaction, including personal data provided to the Lender which enable a recreation of the transaction, for at least five (5) years.

Contact:

(a) The Client, upon accepting this Agreement shall be required to provide contact information and other data to the Lender for the purposes of all communication between the Parties.

(b) The Lender reserves the right to contact the Client directly or through any of the contacts hereafter provided by the Client at any given time. In doing so the Lender may rely on information hereafter provided by the Client or otherwise obtained by the Lender from some other source other than from the Client.

Representations:

All representations made by the Client in this Agreement are true and accurate as of the effective date of this Agreement (being the date of its acceptance) and the Client undertakes hereunder to immediately notify the Lender about any changes in any representation made.

Amendment:

This Agreement expresses and incorporates the entire understanding of the Parties in relation to the subject-matter and all the terms of this agreement and it supersedes and excludes any prior negotiation, understanding, communication or agreement by or between the Parties in relation to the subject-matter or any term of the agreement. The Lender reserves the right to amend this Agreement without giving notice to the Client and the said amendment to the extent that it does not affect the material terms set out in the Pre-Agreement Statement shall be binding on the Client.

Validity, legality and Enforceability

In the event that any provision of this Agreement shall be invalid, illegal or unenforceable it shall not affect the validity, legality or enforceability of any other provision of this Agreement and where necessary the Parties shall negotiate a replacement provision.

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